This is Greenko’s third consecutive Integrated Report, which presents to the reader a comprehensive view of Greenko’s value creation story, taking into account the financial, and non-financial value derived from and delivered to various stakeholders, thus sustaining the group’s value creation abilities. This report was prepared through a structured effort involving internal reflection to map value creation factors and assess the adequacy of strategy to protect and enhance value creation in the face of disruptions. Further, Greenko seeks to transform into a utility of the future by deploying digitalization and decentralization measures and makes clean, reliable, and affordable power in India flexible, thus contributing to India’s energy security and economic stability. This report details Greenko’s efforts in the transformation from GKO 3.0 towards GKO 4.0 and the concurrent value creation and distribution in the journey. Greenko’s position and performance on the material aspects relevant to its value creation viz., generating, retaining, distributing, protecting and enhancing sustainable value, have been included in the six capitals described in this report.
This report is drawn on the basis of global as well as domestic trends in the energy sector and the technology, taking into account several challenges and its impact on value creation. A multi-disciplinary team was created to provide a comprehensive view of the company, its business model, the challenges and risks it faces, and its social, environmental, financial, and governance performance. The Indian Renewable Energy sector is experiencing tremendous pressure due to challenges of increased share of renewables to the grid and the distribution utilities, competitive bidding mechanism, falling tariffs, and other policy related changes that have slowed the industry’s growth. Greenko has significantly contributed to public policy advocacy to bring visible changes in the ecosystem and has been stewarding solutions. All such snapshots have been captured in the present report.
This report intends to communicate Greenko’s effective transition to GKO 3.0 and 4.0 in the face of evolving contours of regulations, technology, and ecosystems. The report details Greenko’s continuing pursuit of Integrated Renewable Energy Storage Projects and digital transformation across operations including the development of an Integrated Energy Platform to make 24x7 power a nearfuture reality. To reinforce agility, Greenko has set in motion People, Process, and Systems across all operations and implemented the ‘ownership model’ of organization development. These organizational initiatives to build #Aatmanirbhar Bharat are detailed in the current report.
This report is organized into five core sections to enable our stakeholders to make an informed assessment of Greenko’s ability to create sustainable value.
The information and data in the report correspond to the progress made during the period 01st April 2019 to 31st March 2020 and refer to all the entities within the Greenko Group.
The report’s contents also mention figures and events from the past to offer a background perspective. The forwardlooking statements contained in this report are based on the analysis of the current context, its expected outcomes are susceptible to change. Care is taken to ensure that all data in this report is as accurate as possible. Wherever, in the report, information relating to beyond reporting period is mentioned, the same is specified.
This report has been prepared in line with the framework established by the International Integrated Reporting Council (IIRC). This report also refers to GRI Standards for reporting and captures Greenko’s contribution towards achieving the objectives of UNSDGs.
The content of this report is complemented by other corporate documents and by information on the group’s website. In specific cases, the reference to such information is mentioned.
For any queries and suggestions on the data and information please write to sustainability@greenkogroup.com
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