BUILDING, OWNING &
OPERATING
HIGH-QUALITY RENEWABLE ENERGY ASSETS
BY LEVERAGING LEADING-
EDGE TECHNOLOGIES FOR
A STABLE AND INCLUSIVE
FUTURE.

ABOUT GREENKO
GROUP

Greenko is one of India’s leading Renewable Energy companies, replacing fossil fuels with integrated decarbonized energy and grid assets enabling sustainable and affordable energy, with a net installed capacity of 3.2 GW across 13 States in India, and over 2 GW in pipeline soon to be operational.

Headquartered in Hyderabad, India, Greenko is leading the digitization, decarbonization & decentralization of the Indian energy market by providing utility-scale, clean and affordable energy to meet the country’s long-term energy security needs. The group is committed towards transforming renewable energy from real-time energy to a dispatchable and controlled medium through digitization and storage solutions to support the economy-wide shift towards a carbon-neutral electricity mix in the Country.

With a core belief in sustainability both operationally and environmentally, Greenko maintains a continuous involvement in localised projects and community programmes which centre on education, health and wellbeing, environmental stewardship and rural infrastructure.
The privately owned group takes a long-term view of business, guided by strong corporate values, high ethical standards, and an able shareholder base which includes sovereign wealth funds GIC and ADIA. Greenko's ultimate holding company is Greenko Energy Holdings, which is incorporated in Mauritius.

Vision
Play Arrow To be the most admired Group in the Indian energy sector.
Play Arrow Build, Own and Operate high-quality energy assets with sustainable management practices leveraging leading-edge technologies.
Play Arrow Build powerful public-private-people alliances for effective
sustainable community development.
Play Arrow Strive for cumulative progress in the projects we undertake in the
communities.

Creating an ecosystem of inclusive
renewable assets in diverse environments.

13

PLANTS

250.5 MW

OPERATING
CAPACITY

5

PLANTS

149.5 MW

OPERATING
CAPACITY

18

PLANTS

710.8 MW

OPERATING
CAPACITY

51

PLANTS

1694 MW

OPERATING
CAPACITY

Team

Mr. Om Prakash Bhatt

Chairman


Mr. Bhatt is the former Chairman of State Bank of India ("SBI"), India's largest banking and financial services company in India, by assets. He started his career in 1972, as a probationary officer with SBI. During his tenure, Mr. Bhatt led SBI through challenging times and was instrumental in SBI finding place on the Global List rankings of Fortune 500.

Mr. Bhatt was the Chairman of the Indian Banks' Association. Mr. Bhatt is also the recipient of numerous awards and recognitions during his career, including the "CNN-IBN Indian of the Year for Business", in 2007.

Mr. Bhatt holds a Graduate degree in Physics and a Post Graduate degree in English literature. He is currently serving as an independent director on the Boards of Hindustam Unilever Limited, Tata Consultancy Services Limited, Tata Steel Limited and Standard Chartered PLC.

Team

Mr. Anil Kumar Chalamalasetty

Founder, Chief Executive & Managing Director


Mr. Chalamalasetty had an extended entrepreneurial career during which he was involved in evolving start-up businesses in Information Technology, Infrastructure and Environmental sectors in the United Kingdom and India. Mr. Chalamalasetty is experienced in mergers and acquisitions, transition and project management with a successful track record of managing operations involving large remote teams. He co-founded and developed the Company with Mahesh Kolli in 2004 and incorporated it in early-2006 to raise funds for financing early operations. He is responsible for effectively implementing the strategic business road map of the Company. Mr. Chalamalasetty is a graduate in Computer Science and holds a Masters from North West University.

Team

Mr. Mahesh Kolli

Founder, President & Joint Managing Director


Mahesh started his career in the energy sector and went on to build his entrepreneurial interests in Information Technology and Environmental space. His entrepreneur journey started with an environmental solutions company focused on technology transfer from developed markets to India. He co-founded Greenko Group along with Mr Anil Chalamalasetty in 2006. Within Greenko, he is responsible for driving the vision, business development and new project initiatives of the Group. Mahesh is a regular speaker at Carbon Market & Clean Energy conferences around the world and is a graduate in Mechanical Engineering from Karnataka, India.

Team

Mr. CHIN HAU BOON

Director


Mr. Boon joined the GIC Infrastructure Group in 2008 and currently has lead coverage responsibility for the Emerging Markets. Prior to joining GIC, Mr. Boon was an Investment Manager at Pulsar Energy Capital where he invested in projects across the energy sector in Europe and the Americas. Before Pulsar, Mr. Boon was a member of the Infrastructure advisory team at Credit Suisse covering a range of projects in transport, logistics and aerospace. He began his career at Singapore Power where he managed natural gas pipeline projects. Mr. Boon has degrees from Imperial College London and the University of Chicago.

Team

Mr. Andrew Dench

Director


Mr. Dench joined the infrastructure team in the Private Equity and Infrastructure department of GIC in 2015 with responsibility for global infrastructure asset management. Prior to joining GIC, he was Deputy CEO and CFO at Veolia Water UK, Ireland and Northern Europe, CFO at Electricity North West and Head of Corporate Finance and Change at the London Stock Exchange Group. Mr. Dench also spent 15 years in investment banking at Morgan Stanley and Credit Suisse, providing strategic and capital markets advice largely in the infrastructure, utilities, energy and natural resources sectors.

Mr. Dench graduated from Strathclyde Business School with a Post-Graduate Diploma in Business IT Systems and the University of Glasgow with an M.A. (Hons), first class, in Economics. Mr. Dench also studied pre-clinical medicine at Oxford University.

Team

Mr. Matthew Lim

Director


Mr. Lim joined GIC in 2006 and is a Senior Vice President at GIC. He leads coverage in the Energy, Natural Resources and Infrastructure sectors in the Global Investments, Strategy and Risk Group spanning both Private Equity and Infrastructure strategies. Prior to GIC, Mr. Lim was with KPMG's Global Projects and Infrastructure Team in London and Singapore. He has over 20 years of investment and corporate finance experience across a range of industries and countries. Mr. Lim holds a MEng in Electronic Materials Engineering from Oxford University.

Team

Ms. Nicole Goh

Director


Ms. Goh joined the GIC Infrastructure Group in 2008. She has coverage responsibility for infrastructure private equity opportunities in the Asia-Pacific region, with prior experience investing in the US and Europe. In 2015, she completed an 18 month secondment to the IFC Global Infrastructure Fund to invest alongside IFC in emerging market infrastructure equity opportunities. Ms. Goh has degrees from Imperial College London and Stanford University.

Team

Mr. Marcus Hill

Director


Mr. Hill is a Senior Fund Manager in the Real Estate and Infrastructure Department of the Abu Dhabi Investment Authority (ADIA). Mr. Hill joined ADIA in 2008 and is responsible for the sourcing, execution and management of infrastructure investments across the Asia Pacific region. Mr. Hill has experience across a range of sub-sectors including renewable energy, toll roads, ports and utilities. Prior to joining ADIA, Mr. Hill worked in infrastructure funds management for Colonial First State Global Asset Management and investment banking at J.P Morgan, both in Sydney, Australia. Mr. Hill holds a Bachelor of Finance from Bond University.

Team

Mr. Kunnasagaran Chinniah

Director


Mr. Kunnasagaran Chinniah is presently a director of Changi Airport International, the international subsidiary of Changi Airport Group. He sits on the boards of Edelweiss Financial Services Limited (EFSL), a listed financial services company in India, as well as two EFSL subsidiaries - Edelweiss Capital (Singapore) Private Limited and Edelweiss Commodities Services Limited. He is a member of the Hindu Endowments Board, a statutory board under Singapore's Ministry of Culture, Community and Youth.

Mr. Chinniah retired in September 2013 as the Managing Director / Global Co-Head of Portfolio, Strategy and Risk group with GIC Special Investments (GIC SI), the private equity arm of GIC Private Limited. Mr Chinniah had joined GIC SI in 1989 after completing his MBA, and subsequently held various positions within the company's North American, European and Asian divisions in a career spanning 24 years. During this time, he also served as a director of numerous GIC portfolio companies in the US, China, Hong Kong, India and Indonesia.

Mr. Chinniah is a Chartered Financial Analyst. He obtained his Bachelor's Degree in Electrical Engineering from the National University of Singapore in 1982 and an MBA from the University of California, Berkeley in 1989. In 1997, he attended the World Bank Executive Programme conducted by Harvard University.

Team

Mr. Sriram Yarlagadda

Director


Sriram is a Partner and CFO with LionWorks Capital which is a new PE fund raising capital for investing in infrastructure in Africa. He was previously Managing Director at Mara Group based in Dubai, with portfolio management and Board of Director responsibilities for Mara's Africa investment portfolio.

Sriram has close to 3 decades of operational and finance leadership experience in diverse geographies such as in Africa, India and the Middle East and across a range of industries, including telecom, insurance, agriculture, fast moving consumer goods, IT & BPO, investment management and private equity.

Sriram has held senior managerial positions at several multinational companies including Tata AIG (CFO), Essar Telecom (CFO) PepsiCo (VP of Finance), Hutchison Whampoa (VP of Finance), and Hewlett-Packard (Manager). He has lived in Uganda and Kenya for five years where he was Managing Director of Warid Telecom's Uganda, Congo, and Cote d'Ivoire operations subsequent to his role as CFO of Essar Telecom's Kenya, Uganda and Congo operations. Sriram is a Chartered Accountant and a graduate of the University of Kerala in India.

THE VALUES BEHIND OUR ENDEAVOURS.

STAKEHOLDER
INCLUSIVENESS

Engage with all the Greenko stakeholders in an inclusive manner for sustainable development of the organization.

EXCELLENCE

Strive for excellence to deliver roles and responsibilities to achieve measurable results in developing, owning and operating world class assets.

ETHICAL

Act with fairness, integrity and honesty with all Greenko stakeholders.

DISCIPLINE

Adherence to company policies and GIMS with a sense of ownership.

INNOVATION

Adopt and encourage use of technology and innovative approaches to deliver breakthrough business results.

TEAMWORK

Achieve organizational objectives with respect and dignity towards all participants of Greenko in a positive and collaborative work environment.

THE EVOLUTION OF GREENKO (GKO)

GKO 1.0

2006 - 2015

Energization - < 1 GW
1. Proven technology
2. Regulatory support
3. Building core capabilities

GKO 2.0

2015 - 2018

Decarbonization - 1GW - 3GW
1. GW scale projects & deeper renewables penetration (5-15%)
2. Achieving competitive cost of generation through RE.
3. Connecting renewables through HV to national grid without any regulatory support.

GKO 3.0

2018 - 2020

Digitization-
1. Transforming renewable energy to reliable, schedulable, and flexible energy through forecasting & digitization.
2. RTC renewables replacing fossil fuels.

GKO 4.0

2020 onwards

Decentralization-
1. Energy value chain moving closer to customers and serving their core needs. 2. Socio economics upliftment contributing to overall national development.

ACHIEVEMENTS AND RECOGNITION

Achievement
GOLDEN PEACOCK AWARD FOR GREENKO BUDHIL HEP

Golden Peacock Award for Greenko Budhil HEP

Golden Peacock Award for

Greenko Budhil HEP

Greenko Budhil Hydro Power Plant has been declared as the “Golden Peacock Occupational Health & Safety Award Winner” for the year 2018, by the Awards Jury under the Chairmanship of Justice (Dr.) Arijit Pasayat, former Judge, Supreme Court of India.

The Golden Peacock Award Trophy and a Certificate was presented to Greenko, at a specially organised 'Golden Peacock Awards Presentation Ceremony', at Hotel Le Meridien, New Delhi on 7th July 2018 in the presence of distinguished gathering of business leaders during IOD, India's "20th annual World Congress on ENVIRONMENT MANAGEMENT AND CLIMATE CHANGE ".

The award was collected by Mr Prasad Raju JVSD, Sr VP Hydro and Mr. Suresh Chand Kalsi, GM Budhil Hydro Electric Plant.

Achievement
GREENKO RECEIVES THE 'NATIONAL POWER LEADERSHIP AWARD' AT THE NATIONAL POWER SUMMIT

Greenko receives the 'National Power Leadership Award' at the National Power Summit

Greenko receives the 'National Power Leadership Award' at the National Power Summit

Greenko receives the 'National Power Leadership Award' at the National Power Summit, Hyderabad - 2018 organised by Telangana State Energy Department and Elets Technomedia Pvt Ltd., on February 9, 2018 in Hyderabad.

National Power Leadership Award was accorded to Greenko Group for its contribution in the Clean Energy sector & being instrumental in construction of world's largest solar park in Kurnool District, Andhra Pradesh.

The award was presented by Shri Ajay Mishra, Special Chief Secretary, Energy Department, Government of Telangana and was received by Mr. C Purushotham, Director Finance, Greenko.

Achievement
GREENKO WINS 'THE CONGLOMERATE OF THE YEAR' @ TV5 BUSINESS LEADERSHIP AWARDS 2017

Greenko wins 'the Conglomerate of the year' @ tv5 business leadership awards 2017

Greenko wins 'The Conglomerate of the year' @ TV5 Business Leadership Awards 2017

Greenko has been awarded as the 'Conglomerate of the year 2017' for being a leader in Clean Energy Sector, at Business Leadership awards conducted by TV5 news channel.

The award was presented by Shri C. Vidyasagar Rao, Governor for State of Maharashtra to our MD & CEO, Mr. Anil Chalamalasetty at a glittering ceremony held in Hyderabad on 23rd Dec 2017.

TV5 is a leading business news channel of Andhra Pradesh & Telangana and has been conducting 'Business Leadership Awards' , to recognize & felicitate companies excelling in their sectors.

This is the 3rd edition of the awards, the earlier two were conducted in the year 2013 & 2015.

Achievement
THE SOUTH INDIAN BUSINESS ACHIEVERS AWARDS

the South Indian Business achievers awards

Greenko wins 'The Conglomerate of the year' @ TV5 Business Leadership Awards 2017

The South Indian Business Achievers (SIBA), an internationally conducted awards night, in association with Ernst & Young, brought together top business leaders and achievers from all over the globe with a South Indian lineage. SIBA recognised the outstanding work from individuals fromacross all businesses and professions within the South Indian Diaspora and acknowledged the accomplishments of the finest in the community. Hon. Minister Shri K.T. Rama Rao, Cabinet Minister for IT E&C, MA & UD,, Industries & Commerce, Mines & Geology, Public Enterprises and NRI Affairs - Govt. of Telangana distributed the awards to the winners. In attendance were about 300 premier South Indian Businessmen from across the world, 25 Top Film Celebrities across South India, Ministers from the Govt. of Singapore, Ministers from the Govt. of India and Govt. officials from South Indian States.

Achievement
YOUNG ENTREPRENEUR OF THE YEAR 2011

young entrepreneur of the year 2011

Young Entrepreneur of the Year 2011

Mr. Anil Kumar Chalamalasetty was selected as the Young Entrepreneur of the Year 2011. He was unanimously chosen by the jury of Zee 24 Gantalu - Parishramika Puraskaralu as the 'Young Entrepreneur of the Year' from Andhra Pradesh for his outstanding achievements in the field of Business.

He was felicitated with the award on 18th March 2011 in a function presided by the honorable Chief Minister of Andhra Pradesh Mr. N Kiran Kumar Reddy and Mrs. J Geeta Reddy, Minister for Major Industries, AP.

GREENKO IN THE NEWS

Greenko will add $10 billion in assets in 4-5 years: Anil Kumar Chalamalasetty

Live Mint - Jun 04, 2018

News

Greenko will add $10 billion in assets in 4-5 years: Anil Kumar Chalamalasetty

Mumbai: Set up in 2006 by first-generation entrepreneurs Mahesh Kolli and Anil Kumar Chalamalasetty, Greenko Group is backed by Singapore’s sovereign wealth fund GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority. Greenko president and joint managing director Kolli, and Chalamalasetty, the CEO and managing director, in an interview spoke about the rationale behind the acquisition of Orange Renewables, besides sharing their views on the sector. Edited excerpts:

Did you pick Orange because there were not many gigawatt size firms available for buyouts?

Mahesh: For us, Orange is not an outcome of a strategic move. Our business model has a combination of inorganic and organic growth. Within that, we have our own matrix. To meet the financial benchmarks, we need to meet certain technical benchmarks. We are working with a large cluster approach in states where we operate. Adding this (Orange) portfolio is within those clusters, and is part of our business model. We did not acquire Orange because it has a gigawatt size portfolio, but because of the clear process that they were following.

How much are you paying for this?

Mahesh: It has an enterprise value of $1 billion, with an equity payout of $300 million. From the single equity cheque point of view, it will be our largest acquisition. In terms of size, SunEdison was larger.

How will this transaction be supported?

Mahesh: We have the balance sheet and the capital right now.

Anil: It will be supported through the cash flow and equity sources. Orange’s existing debt will be passed on to us.

Any more acquisitions after this?

Mahesh: We will continue to look at opportunities as long as they meet our financial and operating framework. We are very particular about our cluster approach and the technologies that come with these assets, and the states in which they operate. It has to make long-term financial returns from the shareholders’ perspective. As long as these two frameworks are working together, we will be willing.

Anil: As long as they are rightly built and have the right commercial agreements, and fall under our long-term views, we will definitely get going with them. We are a $5-billion platform today, with built-in reserves. We see energy as one of the strongest growth sectors; by how it is evolving and transforming. We strongly believe that we have entered a very exciting stage. We are going to add another $10 billion of assets in the next four to five years.

When will you go for your IPO?

Anil: We will not say no to it. But definitely not in the short-term.

Mahesh: We will, at some point in time, but we will only do it when we will be in the Nifty-50 type stocks.

Will ReNew and Greenko be the last of the big green energy firms standing once the ongoing consolidation gets over?

Mahesh: The fundamental difference is that we do not see ourselves as a renewable developer. We are in the energy market and utility market as a segment. Whether it is a ReNew, NTPC or NHPC, for us, the comparison is the energy market.

You have been making a pitch for the electricity distribution business. Where do you stand?

Mahesh: Our electricity distribution plan is driven by consumer access. We are reacting to opportunities.

Anil: Our ambition is to make a difference and impact towards the last mile consumer.

What are the specifics?

Anil: We are working with a lot of R&D companies. We are working with a lot of technology firms. We are trying to understand where the pain points for the consumers are. What are the opportunities which can evolve into energy play? It ranges from micro-grids to transmission and distribution, to storage, and towards electric vehicles. We don’t see distribution as the only bridge to reach the consumers. We are trying to build other opportunities and platforms as well. On transmission and distribution, we are open to do transactions at the right pricing.

Where do you see the green tariffs going from here?

Mahesh: Tariffs are a function of two things -- the real cost of technology and the returns on which the people are willing to work. This sector has matured to a great extent...Tariffs are stabilising at ₹3 per unit.

GIC, ADIA to put $450 million into Greenko

The Economic Times - Jun 05, 2018

News

GIC, ADIA to put $450 million into Greenko

MUMBAI: Hot on the heels of the billion-dollar acquisition of Orange Renewables, Greenko’s key shareholders GIC of Singapore and Abu Dhabi Investment Authority (ADIA) have agreed to infuse another $450 million to bankroll the company’s next phase of growth. This involves 15 GW of integrated, round-the-clock renewable assets combining hydro, wind and solar with the latest storage technologies.

This will be the largest single round of capital raising by a green energy company in India, overshadowing previous initiatives by Re-New Power Ventures that received $247 million in April for Ostro Energy’s buyout. Greenko Group on Monday announced the acquisition of Orange Renewable from Singapore’s AT Capital Group at an enterprise value of $1 billion. ET reported this ahead of the announcement.

After this round, both investors will have cumulatively invested $1.3 billion with GIC alone putting in $1 billion since 2015 in four rounds.

Addressing Needs of Discoms GIC will remain the controlling shareholder with a 60% stake

The two first-generation founders, Anil Kumar Chalamalasetty and Mahesh Kolli, control about 25% while ADIA holds the remaining 15%.

“We will not pursue standalone renewable assets. Our focus for the next three-five years will be on building integrated round-theclock renewable energy which can compete with base load curves to address the real needs of the discoms when our Indian energy market is transitioning from a deficit market to a real demand-driven market,” Greenko group CEO Chalamalasetty told ET.

“Our new assets will compete with conventional coal energy projects on quantity, quality and cost. We are working on building 15 GW round-the-clock renewable assets that will deliver 3GWs of base load. It’s a unique proposition but is required today.”

POWER OF THREE The plan is to have three strategic “integrated asset class” assets — one in the north and two in the south that are dispersed across the country to create a bundled form of energy supply. Most of the incremental investments will go into storage technology.

In recent months, there has been a big drop in new base load capacity addition while existing capacities have been operating at half of their rated levels.

Close to 40 GW of base load assets are facing coal supply crunch or other disruptions. Gujarat recently saw a base load drop of 5GW. As a result, spot prices on the electricity exchanges have spiked to Rs 11-12 per unit from Rs 3 per unit earlier.

Renewables are a 5-10% additional energy source on top of the base load powered by coal and gas.

The challenge facing India’s power grids is the base load and clean energy on its own cannot be a replacement.

“Renewable got the tag of cheap energy but it is destabilising the grid. Coal is of course firm energy but in the last few months both crude and coal prices have gone up. We don’t have a fixed-price, inflation-protected energy,” said Greenko joint managing director Mahesh Kolli.

“In most markets, gas acts as a flexible base load energy to support renewables but we do not have that option with domestic gas and LNG imports cannot be a cheaper alternative either, so the discoms are all feeling the heat of this. We think we can create value — the capital infusion will support that growth plan.”

The Central Electricity Authority (CEA) reported a month ago that the more renewable energy is pumped into the distribution networks, the more expensive it gets for the grid.

According to its calculations, every unit of energy from renewables is costing the discoms an incremental Rs 2 to Rs 2.50 per kilowatt hour.

“We will be integrating multiple storage technologies like batteries, hydro, with wind, solar and hydro and creating an integrated round-the-clock (RTC) renewable energy asset class to meet the discoms’ cost-effective base load energy growth needs while meeting the future Renewable Power Obligations targets,” said Chalamalasetty.

Most of the investments will go into storage technology. Battery prices are coming down but pumped hydro storage is becoming an important asset class.

“It’s common in Europe and also in Tehri Dam where during off-peak time, you pump to bring the water levels up and vice versa during peak hours,” Chalamalasetty said.

NEW STRATEGY However, the existing portfolio of 4.3 GW, inclusive of Orange, will not be part of this since they already have signed power purchase agreements (PPAs) with state utilities while the new assets will be meant for supplying to the national power gridNSE 0.91 % at high voltage.

Ever since losing the opportunity to acquire Reliance’s Mumbai power distribution business to Adani in 2017, Greenko has planning this new strategy, the executives said. Construction work is slated to begin later this calendar year.

Commenting on the Orange acquisition, the biggest by the company so far, Kolli said more than scale it was the geographical complementarity that helped.

“We are working with a large cluster approach in states where we operate,” he said. “Adding the (Orange) portfolio within those clusters is part of our business model. We did not acquire Orange because it has a gigawatt size portfolio, but because of the assets meeting the Greenko’s operational and financial benchmark returns.”