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 4.7 GWdc across 15 States in India. The company has over 500MW of assets under construction which are scheduled to commission next year achieving a 5GW platform scale.

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. The company has already initiated Integrated Renewable Energy Storage Projects in the states of AP and Karnataka. Headquartered in Hyderabad, India, Greenko is leading the digitization, decarbonization and decentralization of the Indian energy market by providing utility-scale, clean and affordable energy to meet the country’s long-term energy security needs.

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.

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

Creating an ecosystem of inclusive
renewable assets in diverse environments.



429.6 MWp




270 MWp




1106 MWp




2659 MWp


  • Team

    Mr. Om Prakash Bhatt


    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.


    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.


    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.


    Mr. Vasudeva Rao Kaipa

    Executive Director & Chief Financial Officer

    Mr. Vasudeva Rao Kaipa Joined the Board in Feb 2012. Prior to Greenko, he was an Executive Director for XL Energy Ltd (from 2005) which has diversifed interests including signifcant solar power operations and organized its IPO to the Indian Stock Exchange in 2006. He also served on the Board of Directors of GSS America Infotech Ltd, a Software Services Company which he advised and helped organize its IPO and NEST Ltd. Vasu also served as an Executive Director at Goldstone Technologies Ltd and also worked for Kirloskar Electric, in a number of key fnance roles.


    Mr. Purushotham C

    Chief Compliance Officer

    Mr. Purushotham is the company secretary for the Group and head’s legal, compliance and commercials functions of the company. He has over 30 years of experience in Energy and manufacturing sector including Coal India, as senior member of the Institute of Costs and Works Accountants of India (FICWA) & Institute of Company Secretaries of India (ACS), with bachelor degrees in Commerce (B.Com) and Law (B.L). He is also qualified in the CPA exams conducted by AICPA, USA. Mr. Purushotham leads PPA discussions with utilities, regulatory and commercial consumers and heads risk management functions.



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


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


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


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


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


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





The Unicorn Award

The Unicorn Award

In Feb 2019 the CEO club India awarded Mr. Mahesh Kolli with “The Unicorn Award” for Greenko which has shown exponential growth in its ten years of operation to become the largest clean energy company operating in India.


Best Utility Scale Developer of the year

Best Utility Scale Developer of the year

Greenko has been felicitated with the ”Best Utility Scale Developer of the year” Award in solar category by EQ International Magazine.

The Award was presented to Greenko at EQ’s Tamil Nadu State Annual Solar Awards 2019 Ceremony at Suryacon Chennai Conference on 27th of February 2019 in Chennai.


CBIP Award 2019


The year 2019 has commenced on a good note for Greenko by receiving an award from Central Board of Irrigation & Power (CBIP), a premier Central Government Institution that recognizes & honours organisations which contribute to the Nation in the development of water and energy resources.

At an awards ceremony conducted on 4th Jan at Delhi ,Greenko was presented with“ CBIP Award for Outstanding contribution for development in Renewable Energy sector ” by Shri Raj Kumar Singh Honourable Minister of State for Power & New & Renewable Energy. The award was collected by Mr Vasudev Kaipa, Chief Financial Office, Greenko.

"Leadership in Performance Award" by CII-Godrej in both Wind & Solar Category

Renewable Energy Council (RE Council) of CII-Godrej GBC has instituted “Performance Excellence Awards" for Solar and Wind Plants 2018 to recognise and award the best performing solar and wind plants in the country. The Award Ceremony was organized on 5th of December 2018 in Hotel ITC Grand Chola, Chennai.

It was a delightful evening for Greenko as we have received the awards “Leadership in Performance” for SEI Mihir (Kurnool) under Solar category and Tanot Wind for Wind category.

The Main objective of instituting these awards is to recognise and reward Leadership and Excellence in operation of solar and wind plants in the country, to motivate the industry towards competitiveness, innovation and quality-consciousness as well as to accelerate the Renewable Energy movement in the industry, through wider dissemination of best practices.


Animala and Zuan Received Green Company Gold Rating

Animala and Zuan Received Green Company Gold Rating

Animala Wind Power Pvt Ltd and Zuvan Energy Pvt Ltd of Ghani Solar Park, Kurnool have received Green Company Gold Rating from CII-Godrej GBC at a specially organised Awards Ceremony during the Green Power Conference & Exposition on Renewable Energy 2018 at ITC, Grand Chola, Gunidy, Chennai on 4th December, 2018.

The sites have set the targets and implemented improvement actions in the areas of 1. Energy Efficiency, 2. Water management, 3. Waste management, 4. Greenhouse gas emission reduction, 5. Material Conservation, 6. Green Supply chain, 7. Product stewardship & Life Cycle assessment, 8. Innovation for Environment and 9. Green infrastructure.

Greenko is the First Renewable Energy Company to receive a “Green Company Rating”.

Independent Power Producers Association of India 2018 AWARDS - BEST SOLAR GENERATOR

Independent Power Producers Association of India 2018 Awards - Best Solar Generator

IPPAI 2018 Awards - Best Solar Generator

At a function in Belgavi on 24th Nov 2018, IPPAI (Independent Power Producers Association of India) awarded Greenko and handed over the trophy & certificate for the Best Solar Generator.

IPPAI Awards are one of the most prestigious awards in the Indian power sector that acknowledges and celebrates the achievements of the Outstanding Performers who have significantly contributed to the development of the power sector in India. IPPAI along with its Knowledge Partner Deloitte did the preliminary screening of the nominations received from Pan India and the jury members (Eminent personalities from the Industry) evaluated the result submitted by IPPAI & Deloitte to short-list / select/ finalize the winners.


IPPAI 2018 Awards - Runner up to the Best Wind Generator

IPPAI 2018 Awards - Runner up to the Best Wind Generator

At a function in Belgavi on 24th Nov 2018, IPPAI (Independent Power Producers Association of India) awarded Greenko and handed over the trophy & certificate for Runner up to the Best Wind Generator.

IPPAI Awards are one of the most prestigious awards in the Indian power sector that acknowledges and celebrates the achievements of the Outstanding Performers who have significantly contributed to the development of the power sector in India. IPPAI along with its Knowledge Partner Deloitte did the preliminary screening of the nominations received from Pan India and the jury members (Eminent personalities from the Industry) evaluated the result submitted by IPPAI & Deloitte to short-list / select/ finalize the winners.


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.


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.


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.


The South Indian Business Achievers Awards

The South Indian Business Achievers Awards

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.


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.


Sovereign funds GIC, ADIA to infuse Rs 3,430 Cr into Greenko

Economic Times - Jun 05, 2019

Sovereign funds GIC, ADIA to infuse Rs 3,430 Cr into Greenko

Mumbai: Sovereign wealth funds GIC of Singapore and Abu Dhabi Investment Authority (ADIA) on Tuesday signed definitive agreements to make a $495 million (Rs 3,430 crore) fresh equity investment in Greenko, increasing their bet on the Indian renewable energy sector.

The Hyderabad-based company plans to use the proceeds predominantly to partfund its storage projects totalling 2.4 gigawatts. These projects, with a total capital outlay of $2 billion, are expected to be completed and become operational in 2022. It has already secured financial closure for the Pinnapuram storage project and is in advanced discussions to raise funds for the Saundatti project.

“The proposed equity commitment from the existing shareholders shows Greenko’s track record in creating longterm value to all its stakeholders,” said managing director Anil Chalamalasetty.

India is transitioning from an energy deficit market to one where contracts are driven by demand for reliable, flexible and cost-competitive energy, said Chalamalasetty, who is also the company’s chief executive.

Greenko is focussing on building integrated renewable energy assets with storage to address these mar kets by competing with conventional energy assets like thermal in quality, quantity and cost, he added. This approach has led in part also to Greenko’s pivot from a generation-focussed company to a more holistic solutions provider, striving to feed peak grid demand with power from clean sources.

In India, coal cannot satisfy demand that peaks in summer. But with an increase in renewable energy supply from a variety of new sources, existing grid infrastructure cannot absorb more than 15% of the supply.

Renewable supply also remains unpredictable, being dependent on the vagaries of nature. GIC will continue to remain the principal shareholder of the company after this fresh round of capital infusion. This will be the third round of capital infusion by the two, making the company the biggest recipient of foreign capital in the clean energy space in the country.

Once they completed this round, the two principal sponsors of the company would have put in a total $2 billion in the 13-yearold company. GIC, which holds a 60% stake, alone has infused $1.4 billion. With $3.2 billion of debt, Greenko’s enterprise valuation is expected to be at $5.2 billion.

ET wrote about the planned fundraising in its February 21edition.

“Greenko is well-positioned to execute the Integrated Renewable Energy projects,” said Ang Eng Seng, chief investment officer of infrastructure at GIC. “Its innovative use of hydro storage and renewable power will enable utilities to mitigate the intermittency issues of renewable power, facilitate the increased penetration of renewable power and reduce the country’s reliance on conventional thermal power overtime.”

Greenko has an operational capacity of over 4.2 GW (DC Capacity of 4.7 GW) across wind, solar and hydro projects. Set up in 2006 by first-generation entrepreneurs Mahesh Kolli and Chalamalasetty, Greenko has a presence in 13 states. It is estimated to have made Ebitda (earnings before interest, tax, depreciation and amortisation) of $500 million in fiscal 2019.

The founders own a quarter of Greenko, while ADIA has 15%. GIC is a leading global investment firm with well over $100 billion in assets under management. Other renewable power companies in India are also getting fresh funding. Existing investors Goldman Sachs, ADIA and CPPIB are infusing $300 million in Renew Power through a combination of equity and debt, ET reported last week.

GIC, ADIA to put $450 million into Greenko

The Economic Times - Jun 05, 2018


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.”

Greenko will add $10 billion in assets in 4-5 years

Live Mint - Jun 04, 2018


Greenko will add $10 billion in assets in 4-5 years

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.