Sustainability

General Standard Disclosures

Our Vision & Mission

"To be the most admired Group in the Indian Energy Sector"



Our Values




"To be the most admired Group in the Indian Energy sector" is the Vision of the Greenko Group. The policies & systems are built with an objective to achieve the vision, strongly supported with interventions to build and develop talent. Human Resource management and development at Greenko has a holistic strategy which has evolved through the enriching culture and the Value System of the organization.

Our values SEED IT form the core of who we are and what we stand for as an organization. Our journey towards values started with a common understanding to inculcate Value Related behaviours and their Impact on business that binds us together.

Greenko has been built brick by brick with a profound Value System (SEED IT) comprising of Stakeholder inclusiveness, Excellence, Ethical, Discipline, Innovate & Team Work, which has been reinforced as the work culture across all levels amongst all employees. Periodic town hall meetings and employee engagement interventions emphatically reiterate the SEED IT Value System for sustenance of progressive growth of employees and the organization.

The SEED IT Value System ensures sustainable development of the employees complementing to the development of the organization.

Greenko meticulously educates its employees for total compliance to the SEED IT Value System explicitly as under:

Stakeholder Inclusiveness

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

Excellence

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

Ethical

Conduct actions with fairness, integrity and honesty with Greenko stakeholders.

Discipline

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

Innovate

Adopt and encourage use of technology and innovative approaches for delivering breakthrough business results.

Team Work

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

Om Prakash Bhatt

Chairman


Dear Stakeholders,

Spurred by the Government of India’s drive to hasten the installation and use of renewable energy, the renewable energy sector has witnessed unprecedented progress in India to reach a total installed capacity of 57.24 GW. It is extremely satisfying for us at Greenko to note that Greenko is leading this mission with its renewable energy assets of 2.65 GW constituting 5% of the total installed capacity. Enthused by the Government’s resolve to increase India’s renewable energy installed base to 175 GW and driven by its own passion for excellence and innovation, Greenko has executed projects in 2016-17, constituting 18.84%, 8.47%, and 46.70% of country’s capacity addition in wind, solar and renewable hydro sectors respectively.

Greenko has a top management team with extensive experience in all the relevant aspects of renewable energy, an envious track record of successfully managing project execution, an in-depth understanding of the business ecosystem and a demonstrated ability to grow businesses, both organically and inorganically. It has a strong shareholder base which among others, includes the two highly respected sovereign wealth funds, GIC and ADIA. We recognize that all this is important for any business. What is more important and what sets us apart is that even as we create value we have the strictest adherence to ethics, integrity and transparency, and a culture of sustainability in almost everything that we do. This is something that has resonance across all parts of Greenko right from the Board, the Management, the Executives and staff to all the stakeholders in our diverse and extensive ecosystem.

We have a Greenko Code of Conduct which serves as a guiding tool that helps employees integrate it’s value based principles into day-to-day business conduct by ensuring complete alignment between organizational values and employee conduct. The Code further, provides practical guidance in areas such as conflicts of interest, gifts and business courtesies, anti-bribery and anti-corruption, confidentiality, environment health and safety (EHS), corporate social responsibility (CSR) and regulatory compliance. Grievance redressal and whistle blower mechanisms are the means to recognize the deviations and violations of the Code of conduct.

Greenko’s business contributes to mitigation of climate change and sustainable development. In addition, the group makes direct interventions to contribute to environment and community. In 2016-17, we have organized 35 programs, of which 15 medical camps, 10 programs for the development of education of children, 4 programs focused on rural development activity and 6 programs focused on environment related activities. These programs are need based and helpful to the communities. Over 11,941 people benefitted from these 35 programs. At Devarakonda in Andhra Pradesh, Greenko involved the school students to green the local hill with 12000 saplings. It is a testimony to Greenko’s commitment to environment that it has transplanted all the trees at its project site. The average age of such trees is above 50 years. To contribute to preservation of endangered Great Indian Bustard, group has committed to adopt the Rollapadu bird sanctuary and would begin the work very soon. Through Public-Private-People partnerships, Greenko is committed to achieve, by 2020 the following: Making positive difference to 15000 students; providing access to healthcare for 50,000; to improving lives of 100,000 and planting 200,000 trees.

Greenko makes best efforts to contribute to national economy, mitigate climate change and also to deliver benefit to local environment and communities. The leadership at Greenko is sanguine the systems, processes and controls are in place to zealously protect and enhance the economic, environmental and societal values. Greenko will continue to build on the leading position towards building a responsible and prosperous future and we look forward to continued support from all stakeholders.

Anil Kumar Chalamalasetty

Founder, Chief Executive & Managing Director


Dear Stakeholders,

It gives me immense pleasure to present the first sustainability report of Greenko Group developed in accordance with Global Reporting Initiative's G4 guidelines - core option. As one of the leading renewable power producer of India, we at Greenko are extremely buoyed by India's ratification of the Paris Climate Change Agreement. We believe this is a landmark in global climate action and is expected to invigorate the clean energy sector in India.

Since our inception, we believed the renewable energy sector to be a critical growth engine for Indian economy and this has been clearly evident in the last few years. The Indian energy sector is undergoing a significant change that has redefined the industry outlook. Sustained economic growth, despite short term blips, will continue to drive electricity demand in India. The Government of India's focus on attaining 'Power for all' has accelerated capacity addition in the country. At the same time, the competitive intensity is increasing at both the market and supply sides. Consequent to ratification of Paris agreement, India has actioned on Intended Nationally Determined Contributions (INDCs) that are designed to hold the increase in global average temperature to well below 2°C, resulting in accelerated shift in the energy sources from coal based to renewables. This level of infrastructure development will require determined action, synergy and significant resources. It will also draw significantly on India's technical and entrepreneurial capabilities. India's leadership in climate action viz., solar alliance, is in synergy with its developmental ambition, technical capabilities and entrepreneurial spirit. India is in a position to harness the opportunity to frame laws and policies that will make it an example for other developing countries. Another key challenge that India is facing is generation of jobs and renewable sector is able to address this challenge too. As per the Council on Energy Environment and Water and the National Research Development Corporation projections, utility and park scale solar PV projects through 2022 could create as much as 58,000 direct jobs in India.

During the reporting period, our focus has been to successfully operationalize the 390MW of solar and wind power generation assets of SunEdison that was acquired by the greenko in September 2016. Moving forward, we will build on the strength of our assets and grow organically and through value accretion. Our focus for short-medium term is to successfully build and operate our 3 GW of asset portfolio. We want to build a platform which is diversified and sustainable in the long term. We have raised the largest Green Bond by a private enterprise in July 2017 with the support of over 100 institutions globally.

We at Greenko group, believe that our value creation model is uniquely positioned to address many salient elements of sustainable development viz., Climate Change, Local and Regional Environmental Degradation, Powering the Economy, Generating Wealth and Employment, Technology and Innovation and Inclusive Development. And these are sustainability focus areas and at the beginning of this report, we have disclosed our contribution in these areas as a part of our accountability to all stakeholders. As this is our first attempt to bring out our sustainability report, we have limited ourselves to the performance figures of the following six plants under three SBUs:

Solar plants

SEI Aditya Shakti Private Limited

Sunborne Energy Andhra Private Limited

Wind plants

Greenko Rayala Wind Power Private Limited

Tanot Wind Power Ventures Private Limited

Hydro plants

AMR Power Private Limited

Greenko Budhil Hydro Power Private Limited.



However, the ESG management systems are deployed across the Greenko Group. I hope you will find this report addressing your material concerns and is adequately informative. We welcome your feedback on our performance and disclosures.

About this Report

We are committed to transparently communicating our sustainability approach and performance to our stakeholders. Greenko Group has established the process for sustainability reporting and our approach towards reporting is based on the tenets of stakeholder inclusiveness and materiality assessments.

Report Profile

This is our first annual sustainability report developed in line with the Global Reporting Initiative (GRI) G4 sustainability reporting guidelines. This report covers our performance for the reporting period from 1st April 2016 to 31st March 2017. The report is meant to communicate our approach towards sustainability and our underlying performance. As this is our first report some of the information presented is as of the date of release of this report. The report is based on the principles of stakeholder inclusiveness and materiality to cover sustainability issues and topics relevant to our business as well as our stakeholders. The GRI content index has been presented at the end of the report. The report complies with the GRI G4 guidelines in accordance with 'Core' option.

In this report, the reporting boundary has been limited to the following entities, while reporting environment and safety related performance data:

  • SEI Aditya Shakti Private Limited, Perambalur District, Tamil Nadu.
  • Sunborne Energy Andhra Private Limited, Gadwal District, Telangana.
  • Greenko Rayala Wind Power Private Limited, Anantapur District, Andhra Pradesh.
  • Tanot Wind Power Ventures Private Limited, Jaisalmer District, Rajasthan.
  • AMR Power Private Limited, Dakshina Kannada District, Karnataka.
  • Greenko Budhil Hydro Power Private Limited, Chamba District, Himachal Pradesh.
  • All other information and data in the report pertains to all the entities and their operations within Greenko Group.

The boundary considered for reporting of performance of each aspect that either has high or medium impact on either business or on stakeholder is further detailed.

Group's Sustainability Issue GRI G4 Material Aspects Aspect Boundary
Regulatory compliances / Govt. policies Compliances
  1. SEI Aditya Shakti Private Limited
  2. Sunborne Energy Andhra Private Limited
  3. Greenko Rayala Wind Power Private Limited
  4. Tanot Wind Power Ventures Private Limited
  5. AMR Power Private Limited
  6. Greenko Budhil Hydro Power Private Limited
Labour welfare / Employee welfare/Skill Enhancement /Talent Acquisition/Employee Engagement /Emergency preparedness /Occupational Health & Safety Labour management relations, Labour practices, grievance mechanism
Profitability / RoE / Tariff /Risk Management / Corporate Governance / Plant efficiency Economic performance
Water management Water
Human rights Investment, Non-discrimination, Freedom of association and collective bargaining, Child labour, Forced or compulsory labour
Biodiversity Biodiversity including ecosystem services, Indigenous rights
CSR / local community initiatives Indirect Economic Impacts, Local Community
Waste Management / Equipment Life cycle Environmental Management
Aspect Boundaries


Our supply chain, is majorly located in India and spread across the country with multiple tiers of contractors, vendors, OEMs etc. We have initiated inclusion of various responsible business practices to be followed by the entities and individuals in the supply chain. However, we have not been monitoring the adherence to such practices by our suppliers and collation of performance data of our suppliers. Accordingly, performance reported herein does not include that of the supply chain. As a part of our ESMS, we have upgraded our supply chain practices and beginning our next sustainability report, we will include the data and information of the supply chain, as applicable.

Reporting Process

The sustainability reporting process at Greenko Group is managed and co-ordinated by Greenko Integrated Management System (GIMS) department. The reporting process followed is presented below.

Sustainability Reporting Process


Data Source

Data presented in the report has been either sourced centrally from Enterprise Resource Planning system, standalone online system and directly from the sites included in the reporting boundary.

External Assurance

For this first sustainability report, we have not sought an independent assurance of this report. We have carefully reviewed performance data presented in this report along with all other details presented to ensure that they are authentic, relevant and fulfill the information requirements of our stakeholders. We look forward to hearing from you on our sustainability performance (For any further query/clarification/suggestion, please contact our Sustainability cell at sustainability@greenkogroup.com).

Reporting Cycle

This is Greenko's first sustainability report and we plan to publish the sustainability reports annually.

Stakeholder Engagement

Engaging with our stakeholders is an essential component of our sustainability strategy. Such engagements are carried out throughout our operations. Our key stakeholder groups include customers, shareholders as well as bankers, regulatory authorities, employees, suppliers and local communities. We follow a well specified mode of engagement for each of these stakeholder groups. We have established an effective two-way communication with our stakeholders, allowing us to create and maintain enduring relationships with all of them. Our engagement with our stakeholders have helped us to register their expectations and thoughts thereby providing us with an opportunity to effectively respond to stakeholder concerns. The table below presents our engagement mode and the areas of interest of various stakeholder groups with whom we have engaged for developing this report.


Stakeholder Group Modes of Engagement Area of Interest
Shareholders, bankers & financial institutions Regular Board of Directors meetings, annual reports, Communications with CEO Group performance, Policy Compliance and major projects
Regulatory Authorities One to one engagements and Annual Reports Compliance
Employees Employee engagement interventions, Performance review and feedback, Town Halls meets, One on One meetings, Training, Health check-ups, Safety Committee Meetings, Food and Welfare Committee meetings, Inter-departmental meetings, Sports and Recreation activities, Denunciation channels Career development and management, skill enhancement and building a repository of required skills
Suppliers Contract management and One to one engagement Product quality, Pricing and availability, technical requirements, environment aspects, safety, pricing and payment terms
Local Communities One to one meetings, Public Consultations, Grievance Redressal Meetings, Focused Group Discussions etc. Community needs and concerns, rural infrastructural development support, health camps and support, educational interventions, scholarship programs support, environment protection and plantations etc.
Customers Customer feedback, one to one Engagement, Monthly, Half yearly and Annual reviews Product Quality and Safe Practices
Stakeholder Engagement - Mode and areas of interest

Our Materiality Assessment

In line with GRI G4 requirements, we undertook a materiality assessment exercise in order to identify our material sustainability issues. We conducted secondary research and had interaction with internal stakeholders to arrive at a shortlist of sustainability topics relevant to our business and our stakeholders. Through this exercise, relevant sustainability topics were selected. In order to conduct the materiality assessment, we engaged persons from various functions from the corporate office and employees from the identified plants through a materiality workshop.

The workshop was meant to ascertain the extent of impact of the shortlisted sustainability topics on our business. All the shortlisted sustainability topics were discussed and the participants were asked to rate the topics in order of importance/relevance by way of their impact on our group's sustainable performance.

The aggregated inputs from the stakeholders were used to arrive at Greenko Group's materiality map shown below.

Materiality Map of Greenko Group

Organizational Profile

Greenko Group is a frontrunner in the growing clean energy industry in India. The Group has a diversified portfolio of wind, solar, hydro, natural gas and biomass assets within India.

The Group presently has a total installed capacity of 2.65 GW with a target to increase the total capacity to 5 GW by the close of the year 2020 through development of new Greenfield assets. The Group's portfolio is carefully diversified geographically and risk is spread across 80 projects which utilise varied environmental friendly technologies. We have a footprint across 13 Indian states with around 80 operational projects.

Our assets generate over 8.5 billion units of clean energy electrifying about 2.7 million households thereby avoiding approximately 6.9 million tonnes of CO2e on annual basis. As a responsible company with focus on sustainable development, Greenko maintains a continuous involvement with local community through its CSR programs in over 165 villages in the vicinity of project sites.

Greenko Group has an experienced management team employing directly over 2,000 associates, with proven extensive experience in the relevant fields. The team has in-depth understanding of successfully managing projects and demonstrable ability to grow businesses both organically and inorganically. The Group has a strong shareholder base which includes sovereign wealth funds like GIC and ADIA. The Group is headquartered at Hyderabad (Telangana, India) and its ultimate holding company is Greenko Energy Holdings that is incorporated in Mauritius.



The overall Greenko Group structure is presented below

Power Purchase Agreements

One of the key factors which affect our results of operations is our ability to enter into long-term PPAs for our generated power, thereby enhancing the security and long-term visibility of our revenues and limiting the impact of market price variability on our revenues. Almost all of our generated power is sold under PPAs to state utilities, industrial and commercial consumers and captive consumers.

While these PPAs reduce exposure to volatility in the market price for power, the predictability of our operating results and cash flows vary by project based on the negotiated terms of these agreements, in particular the tariffs.

Below are the benefits we deliver to customers through PPAs: i. Sharing of CDM credit with Customer: The Clean Development Mechanism during the tenure of the PPA shall be passed on to customer between 10%- 50% ii. Green Power component (REC): The green power component is passed on to Customer. Thus enabling to meet RPOs at no additional cost. iii. Free Power to State Government: In case of Hydro Power plant, 12% of the energy generated is shared at free of cost with the state government. However, the above benefits are State, Sector and PPA specific and may change accordingly.



Our PPAs are generally structured in three ways:

Feed-in Tariffs

PPAs with preferential feed-in tariffs ("FITs") (including PPAs for solar projects obtained through competitive bidding) having a term of between 10 to 25 years which provide greater downside protection since the tariffs are generally fixed for the duration of the PPA. PPAs based on FITs generally do not escalate for inflation.

Third party direct sales

Open access tariffs or Group captive consumer or third party direct sales linked to commercial tariffs which provide potential for upside based on increases in tariffs charged by state utilities to their industrial and commercial consumers in future years. Such PPAs are generally entered into on a long-term basis, providing clear visibility of revenues for the relevant project with potential growth in revenues from better payment terms.

APPC tariffs

PPAs with tariffs based on average power purchase cost of electricity ("APPC") plus RECs which offer greater upside revenue potential depending on the annual escalation in APPC tariffs and the market price of the RECs that may be sold. As the term of such PPAs is generally short, this PPA model allows us the flexibility to move to the merchant tariff model at an appropriate time with direct customers or Group captive consumers, enhancing the revenue realization of the relevant projects.



Our supply chain

Greenko Group's commitment to embed sustainability extends to supplier network as well. The Group believes that for responsible business functioning and to become truly sustainable, the commitment and values should be shared and extended to business partners as well. Greenko Group wants its suppliers to uphold equivalent standards for business conduct and therefore have been helping the suppliers build capacities for improving their environmental and social performance. Right from on-boarding the vendors, the vendor registration process ensures compliance to the principles of ethics, safety, environment and sustainability. Majority of our suppliers are certified for Environment Management System (ISO 14001). This year, supply chain guidelines were administered to all the key suppliers.





Salient Features of Selected Sites

1. Greenko Rayala Wind Farm is a 240+ MW wind energy project located in Anantapur District, Andhra Pradesh of which 179.2 MW is operational and the balance capacity is under construction with the transmission distance of approximately 45 km. The project is owned and operated by our subsidiary, Greenko Rayala Wind Power Private Limited.

2. Tanot Wind Farm is a 120 MW wind energy project located in Jaisalmer district, Rajasthan. The power generated by the project is transmitted over a distance of approximately 38.50 km through a 220 kV transmission line from the pooling sub-station of the company to the closest RRVPNL's sub-station. The project is owned and operated by our subsidiary, Tanot Wind Power Ventures Limited.

3. Greenko Budhil Hydro is a 70 MW run-of-river hydropower project located on Budhil stream, a major tributary of Ravi River, in Chamba District, Himachal Pradesh. The project has been operational since October 2012. The power generated by the project is transmitted over a distance of approximately 18.0 km through a transmission line connecting to the PGCIL 220 KV Chamera Grid sub-station.

4. AMR Hydro is a 24.75 MW run-of-river hydropower project located on the banks of Netravathi River near Perla-Shamboor, Bantwal Taluk of Dakshina Kannada District, Karnataka. The project is owned and operated by our subsidiary, AMR Power Private Limited, and has been operational since June 2010. The power generated by the project is transmitted over a distance of approximately 10.0 km through a 110 kV double-circuit transmission line connecting to the 110/33 KV Pallamajallu Grid sub-station.

5. Sunborne Energy is a 44.80 MWp solar project located in Gadwal district of Telangana State. The project has been operational since February 2016. The power generated by the project is transmitted over a distance of approximately 17.8 km through a 132 kV double-circuit transmission line connecting to the 132/33 KV Leeja sub-station.

6. Aditya Shakti is a 12 MWp solar project located in Permabalur district of Tamil Nadu. The project has been operational since March 2016. The power generated by the project is transmitted over a distance of approximately 7.2 km through a 22 KV transmission line connecting to the Puttnampatti sub-station.

Governance

We believe in inculcating a culture of ethics and integrity not only within the organizational boundaries but also in our business partners. We have instituted robust governance framework enabled through policies and monitoring mechanisms to implement responsible business practices across our supply chain.

Our vision is to be the most admired Group in the renewable energy sector. Our Board is responsible for the overall strategy and direction of Greenko in India, as well as for approving potential acquisitions, major capital expenditure items and financing matters. The Board has a formal schedule of business reserved to it and meets regularly during the year.

Board of Directors

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 Hindustan 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 group 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 enterpreneurial 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. 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 Program conducted by Harvard University

Mr. Sriram Yarlagadda

Director

Mr. Sriram Yarlagadda is presently a Managing Director at Mara group. He is also a Partner and CFO at Lion works capital, specializes in Infrastructure sector. He is a member of the Institute of Chartered Accountants of India. He was earlier associated with Pespsico, Tata AIG, to name a few.

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.

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.

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.

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.

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.

Ms. Pinpin Kweton

Director

Mr. Patrick Lee

Director





Governance Structure and Composition

The Board of Directors is the highest elected body to oversee the group's affairs and activities. The members of our Board are eminent professionals with diverse backgrounds who are selected on the basis of their experience, qualifications and leadership positions held in the industry.

The Board is responsible for Greenko's overall strategy and direction, approving potential acquisitions, major capital expenditure items and financing matters. The Board has a formal schedule of business reserved to it and meets regularly during the year. In addition the Board also works through several committees, to clear various statutory and non-statutory issues. The Board monitors exposure to key business risks, reviews the strategic direction of the Group, the annual budgets and its progress.

Organizational Structure

Greenko practices the matrix organizational structure of working across all businesses and functions. In our matrix model, accountability and responsibilities rest through the matrix model which rests with multiple stakeholders, and across the members of the team in all functions and departments. Through matrix organization the responsibilities and accountability are distributed with respect to multiple resources.




* CCO- Chief Compliance Officer
* M&A- Mergers & Acquisitions
* COO- Chief Operating Officer
* GIMS- Greenko Integrated Management System

Greenko Integrated Management System

The Group has put in place the Greenko Integrated Management System (GIMS) that operates in accordance with global best practices, works on establishment, implementation, integration, and maintenance of Quality, Environment, Health & Safety, Information Security, Energy and Social Accountability Management Systems (QEHS-IS-En- SA) as per the requirements of ISO 9001:2015, ISO 14001:2015, OHSAS 18001:2007, ISO 27001:2013, ISO 50001:2011 and SA 8000:2014 respectively. In addition to ISO standards, the ESMS (environmental and Social Management Systems) as per the requirements of IFC performance standards and Sustainability reporting as per the requirements of GRI-G4 are also integrated into GIMS. Greenko is certified by DNV-GL for implementing ISO 9001:2015, ISO 14001:2015, OHSAS 18001:2007 & ISO 27001:2013.

Internal Audit

Internal audit is an assurance function established by Greenko group. The main objective of internal audit is to provide internal assurance of compliance designed to add value to Greenko's operations. Greenko has an effective audit committee. The audit committee oversees and provides assistance to the Board in fulfilling the responsibilities related to financial auditing and compliance. Our integrated management system department GIMS is responsible for a systematic and disciplined approach to evaluate and improve the effectiveness of management systems.

GIMS team conducts regular internal audits of integrated Quality management, Environmental management, Occupational Health & safety management, social accountability and Information security management systems at planned intervals.

Risk Management

The risk management system at Greenko is backed by a strong governance structure which includes the Board, Audit Committee, and Risk Management department.

Our risk management department allows us to manage risk and compliance-related issues that are inherent to our operations. We thoroughly track and prioritize risks and undertake suitable mitigation measures. We also identify all high- level and medium-level risks and map suitable mitigation plans to manage these risks. For an organization of our size that includes all our plants and projects, our risk management system has allowed us to track and mitigate several high risk issues effectively. The risks at Greenko Group across the SBUs are broadly classified as:

  • Operational risk
  • Security risk
  • Legal and regulatory risk
  • Financial risk
  • Environmental risk
  • Safety risk
  • Social risk
Greenko Group Risk Management Committee Structure


Our Awards and Alliances

The Group continues to demonstrate their real commitment to sustainable development by contributing to environment protection, employee safety and socio-economic development. As a testimony to the group's efforts, many accolades were conferred for exemplary business performance. Some notable ones are:

  • Greenko received the "Smart importer logistics award" from Maritime Gateway in the "Smart Logistics Summit held at Hyderabad.
  • Greenko received Best management award for Ghani, Kurnool project from government of Andhra Pradesh.
  • Our CEO & MD has been Awarded the "Best Entrepreneur" from government of Telangana in the "Power & infrastructure category"
  • Greenko has received Excellence in Supply Chain Management in the event NATCOM-2016 conducted by Indian Institute of Material Management.
  • Our CEO & MD has been awarded the "The South Indian Business Achiever's Award" by E&Y in the Construction & Infrastructure category in recognition of his outstanding work from across all businesses and professions within the South Indian Diaspora
South Indian Business Achiever's Awards Ceremony

Greenko Group actively participates in responsible policy advocacy through industry forums like CII, FICCI, Indian Institute of Material Management and National Safety Council. The group is a member of these bodies. The representatives of Greenko Group regularly participate in the activities of these associations.

We were one of the prime sponsors for RenewX 2017 held at Hyderabad: UBM India, organizers of Renewable Energy India (REI) Expo launched the second edition of RenewX. The expo witnessed a congregation of South India's green economy community to discuss industry trends, challenges and share market insights. It also served as an industry platform for organizations to capitalize and penetrate into the lucrative South Indian renewable energy market. The show brought together over 130 exhibitors that included manufacturers, EPCs, distributors and service providers.

Greenko - RenewX 2017 Event

Ethics and Integrity

Ethics and integrity is the crux of 'SEED-IT' value system at Greenko. We believe that it is our responsibility to provide our internal and external stakeholders with a fair and ethical work environment.

Our value system SEED IT forms the core of who we are and what we stand for as an organization. Our journey towards values started with a common understanding to inculcate Value based behaviour and their impact on business that binds us together.

Code of Conduct

Our Code of Conduct serves as a guiding tool that integrates our values into our day-to-day business conduct by ensuring complete alignment between organizational values and employee conduct. Our code of conduct provides practical guidance in areas such as conflicts of interest, gifts and business courtesies, anti-bribery and anti-corruption, confidentiality, Environment Health and Safety (EHS), Corporate Social Responsibility (CSR) and regulatory compliance.

All employees, including new hires are required to attend an induction session which encompasses a session on the Code of Conduct. All the employees need to adhere to the code of conduct.

We have a well-established procedure for grievance mechanisms for affected communities, to address their concerns and grievances and facilitate resolutions of issues pertaining to environmental and to social performance of our projects/ operations. We have established, implemented and maintained procedure for periodically evaluating compliance with applicable legal and other requirements relevant to our operations.

We have procedure in place for external communication that includes various methods to address concerns.