Indian renewable energy major Greenko is nearing to bag $550 million in an investment round, raising its valuation to $5.2 billion.
The investments will come from Singaporean sovereign wealth fund GIC Pvt Ltd. and Abu Dhabi Investment Authority (ADIA).
The infusion is part of $450 million that the two companies committed to investing in Greenko, taking the total funds invested by the two to $2 billion.
GIC, which holds around 60 percent stake in Greenko, is infusing around $1.4 billion. With $3.2 billion of credit, Greenko’s enterprise valuation will rise to $5.2 billion