Manufactured Capital

Strategic Approach

Greenko shall deliver variable electricity, storage services, dispatchable RE, green hydrogen, green ammonia, and green methanol, with plans to blend hydrogen into city gas.

On the path to becoming a true integrated decarbonisation solutions Company, Greenko’s three pillars - Renewable Energy Generation (GAM), Long Duration Energy Storage (PSP) and Zero Carbon Molecules. These three pillars shall reinforce our mission towards a greener and cleaner tomorrow.

Under each pillar, Greenko has established strategic areas of focus and performance indicators. The Company analyses data and creates plans to accelerate the progress in each focussed area.

Our Performance

Excellence, Adoption and Management of Assets

In FY 21-22, the Group’s assets produced 11,479.20 MU of energy in total, an increase of 16.07% from the previous year FY 20-21 (9,889.67 MU). The Group owes this improvement in performance to the significant uptick in wind energy output, which generated 1,523.95 MU more than the previous year - a 31.54% increase.

With a considerable rise of 37.25% from the previous reporting year, Greenko’s total installed capacity for FY 21-22 stood at 5,936.35 MW (4,325 MW, FY 20-21).

Performance Highlights


increase in the saleable electricity


increase in total energy generation

7.5 GW

of total operational capacity


Total operational projects across 15 states

A detailed breakup of the operational performance of Greenko’s Assets is given below for last three financial years:




FY 19-20

FY 20-21

FY 21-22










Operational Performance


Plant load factor












Plant availability factor












Grid availability
























Total generation achieved











Generational Losses


Due to equipment failure












Due to external grid failure












Due to internal grid failure












Due to LDC curtailment











A detailed breakup of the operational performance of Greenko’s Assets is given below for CY 2022:








Operational Performance


Plant load factor






Plant availability factor






Grid availability












Total Generation achieved





Generational Losses


Due to equipment failure






Due to external grid failure






Due to internal grid failure




included in equipment failure


Due to LDC curtailment





AMR Power Pvt. Ltd., Karnataka

The reported generating losses are the result of equipment failure, internal and external grid failures, and LDC curtailment. Greenko is committed to enhance the efficiency of its assets, and all the Company’s equipment is routinely updated and maintained to ensure minimal losses.

The operation and maintenance (O&M) of the Company’s large-scale infrastructure are benchmarked to best practices in the industry to ensure high quality output by the Company’s diverse plants.

Performance Improvement through Effective Systems

The continuous effective operation of Greenko’s assets is essential to the Company’s capacity to provide reliable and affordable electricity. The diversity of knowledge and experience held by Greenko forms the foundation of asset management capabilities to achieve excellence in performance.

Predicting Downtimes

  • Greenko has developed strategic asset management systems and processes under PPS (People, Process, System) to increase operational efficiency and effectiveness.

GATS (Greenko Asset Tracking System) and GOMS (Greenko Operations and Maintenance System)

  • The next step is to monitor and oversee the progress of the ongoing tasks after the tasks have been determined and prioritised. For accomplishing this goal, Greenko has implemented the GATS (Greenko Asset Tracking System). Additionally, Greenko has deployed GOMS (Greenko Operations and Maintenance System) to track maintenance activities and notify of any schedule or quality deviations.

Drones and Thermal Imaging

  • With the aid of drones, Greenko performs routine audit inspections to inspect and maintain the asset’s performance and health. Thermal imaging technology is used by Greenko for aerial mapping and to monitor the condition of the solar panels. Greenko also identifies issues, if any, with the wind turbine engines, gearboxes, or blades through their thermal imaging capabilities. To detect and address irregularities, Greenko also conducts routine thermal imaging of Power Cables and Power Cable joints. These predictive tools help the Company operate better and increase asset availability.

Value Creation

WINSOM - Wind In-Source of Operation and Maintenance

The Original Equipment Manufacturer (OEM) used to be the only party responsible for the operation and maintenance of Greenko’s wind portfolio (OEM). Greenko has adopted an in-source maintenance strategy for the wind assets to maximise asset performance and reduce O&M costs. This was done after a thorough study of risks and opportunities. The overall amount of wind generation capacity included in the WINSOM programme climbed to 560.5 MW during the current reporting period. The multiskilled employees of the Group

have been encouraged to participate as a result, preventing any manpower stagnation and introducing a more independent approach to O&M.

Each WINSOM site showed a significant boost in performance and helped to seize untapped energy-harvesting prospects. The following advantages resulted from it:

  • Implementation of best-in- class asset management practices
  • 360-degree care of WTG assets
  • Material sourcing and inventory management
  • Identifying and addressing technical issues at the earliest

Health and Safety Management

According to Greenko, all incidents are preventable, everyone on-site has a responsibility to help prevent accidents at their level. Greenko provides a safe and healthy environment for everyone involved in asset management, including staff members, vendors, contractors, and visitors. To guarantee legal compliance, reduce risks, and protect the employees and others impacted by business operations, Greenko Asset Management teams set the goals and targets for all its assets.

To safeguard the health and safety of those involved in the project, Greenko creates a project-specific health and safety plan. All consultants, visitors, and subcontractors are required to follow the guidelines of health and safety plan.

Energy Value Pools Harnessed

The Company saw 21% increase in the saleable electricity and generated 22.3% and 37.36% increase in the sale of electricity to utilities and the sale of electricity through exchanges respectively.

KPI (in MU)

FY 19-20

FY 20-21

FY 21-22

CY 2022

Saleable electricity (Excluding Import Energy and line losses)





Sale of electricity to utilities
(PPA / Feed-in tariff)





Sale of electricity through Wheeling and banking (direct sale to consumers)





Sale of electricity through exchanges





Under Value Pool’s

Budhil earned 63.94 lakhs by sharing infrastructure (transmission line) with HPSEB

Excellence, Adoption and Management of Projects

Greenko employs Greenko Energy Project Systems (GEPS), an analytical management system for tracking its project. It is a specialised, cutting-edge project monitoring system designed for real-time agile project management, QA/QC, engineering, logistics, material management, storage. GEPS includes a business intelligence system that enables tracking and monitoring down to the micro level with crucial areas being highlighted based on the project timeframe. Document Management System (DMS) is also a component of GEPS.

To balance the grid, Greenko will soon be able to deliver on-demand power through its IRESPs, that may be scheduled based on peak and baseload requirements. IRESPs can offer DISCOMs a supplementary storage through efficient grid balancing services which will lead to minimal storage loss. The grid receives planned and flexible power from the IRESPs, which are storage infrastructure platforms with digital connections that harness the power of various renewable resources.

Project Management and Control (PMC)

PMC is tasked with establishing standards and guidelines for the project, while upholding Company’s values and the industry standards. PMC is also tasked with supervising and managing each project’s entire lifecycle from conception to completion.

The main duties of PMC are:

  • Evaluates scheduling, planning, and resource monitoring
  • Approves the construction techniques for the essential elements
  • Adapts the schedule based on developments
  • Reviews and fixes any interface problems

“Greenko, with successful years of experience in planning and execution of Renewable Energy projects, has undertaken execution of multiple IRESPs with ambitious timelines and quality standards. We are deploying the power of technology, experience and commitment of teams, to complete the Pinnapuram Pumped Storage Project on time. The team understands the criticality of timely delivery of storage services for achieving the decarbonisation targets.”

Mahalik KCSVP, PMC

Engineering and Design

The team goes through the entire design cycle when designing, which includes conceptualisation, design, and awarding work to vendors or contractors. This team examines the designs given by vendors during execution, checks the execution periodically for compliance with the design goals, and offers technical support among other things. As the execution is finished, the team trains the O&M team, walks them through all technical intricacies of the design as performed, and does periodic reviews of operations and asset health.

Tools used by Engineering and Design

Electrical Transient Analyser Program (ETAP) is a unified engineering and real-time platform used to model, design, visualise, analyse, predict, control, and provide insight on management and performance of electrical power systems. This tool is used by Greenko’s Electrical AC Designs team to conduct power system analyses such as load flow, short circuit, coordination of the protection relays, etc.

The ETAP platform will give an active blueprint of the electrical system with automated rule-based design, model-driven predictive analysis, co-simulation platform, operator training simulation hub, combined with real-time analytics, intelligent control, and asset performance monitoring.

Digitisation and Automation in Projects

Greenko intends to reduce the amount of hard copy records by using digitalisation to automate several documentation processes to simplify the handover process, lower the maintenance requirements.

Quality Management

Greenko believes maintaining high standards of quality and efficiency of the existing assets is just as crucial as extending the asset portfolio and optimising returns. “Maintaining uncompromised quality standards in building and operating energy assets” is the motto of the Quality Management Department (QMD) at Greenko.

QMD is crucial in guaranteeing quality from the project’s conception until its handover. The fundamental tenet is to prioritise “defect avoidance above defect discovery”. The QMD has formulated a well-defined, comprehensive Quality Management Plan covering the various aspects such as Policy & Objectives, Context Management, Project Organisation, Communication Management, Design and Engineering Management, Vendor Management, Quality Control and Assurance, Audit Management, Deviation Control, Document Management, Training, IT Management, and HSE Management

QMD oversees implementing quality control measures across the Company’s operations. A robust set of standards have been formulated to ensure that the highest level of quality is maintained for the procurement of raw materials used in the execution of the projects. With the help of strategic level policies and operations, the team can decide on its priority areas, methodologies, and processes, as well as to incorporate quality control components into key project phases.

QMD process has been digitalised to uphold excellence and the highest standards of quality, allowing all forms to be completed online and records to be stored in a portal that is accessible whenever additional information is required.

For the QA of IRESP, the QMD has created and adopted a quality management plan. A “Quality Assurance Handbook” with Civil, Electrical, and Mechanical procedures has also been created. These protocols are created based on national and international norms and codes that have been implemented to comply with Greenko’s requirements.

All phases of the building of the IRESP project utilise best standards in quality assurance. For IRESP stages like engineering, procurement, construction, and pre-commissioning, QMD has mapped interaction and influence zones. To assure the accuracy and completeness of the design parameters, the organisation conducts multistage reviews of the engineering and designs at each stage.

Greenko has developed some cutting-edge and novel approaches for controlling IRESP, taking the complexity scale, etc. into consideration. These practices include:

Quantity Surveying

The quantity surveying function begins at the project’ scommencement and extends through the preparation of the best quantities, initial project cost preparation, cost planning, and contract model recommendations. Along with managing project spending, disbursement, and payment recommendations based on the job completed, it also targets audit preparedness with precise documentation. The function’s ultimate assurance is the closing of all accounts and contracts, the completion of the project, and the release of securities following successful fulfilment of all implied warranties.

Project site inspections are scheduled once a month or as necessary, and HO QMD performs internal quality assessments. The observation points are recorded and followed up on until they are resolved. If necessary, site QMD will raise the problem as an NCR using the deviation management system.

Intelligent Energy Platform - Greenko’s Dispatch Center

Greenko has extensive database within its SCADA systems. Network management solutions are being developed by Greenko in conjunction with leading industry experts like PRDC, Siemens, and OSI to support the Company's Energy Solutions with AI/ ML-based energy scheduling and dispatch capabilities.

The IRESPs are anticipated to use storage technology that is digitally connected to solar and wind resources to schedule and provide flexible power to the grid. The IRESP also enables Greenko to offer various contract options to off takers to meet their demands in a timely manner.

Performance Improvement through Effective Systems

  • Greenko Energy Project System

Once the tasks have been determined and prioritised, to oversee the progress of the ongoing tasks, Greenko has implemented GEPS.

“Completion of PSP without cost and time overrun is critical to decarbonisation plans of many of our partners and customers. The project teams are making best efforts and are confident that the first PSP will be operational during this year.”

Srinivas Naidu A DPD, PSP

Value Creation

Value Creation Initiatives across Portfolio

Value Creation Stories:


Contracts and Procurement Management

Greenko strives hard to drive sustainability not only across its operations but also across its value chain. For the same, the C&P department at Greenko continuously improves its internal procedures, conducts proactive risk analysis, and collaborates with all its suppliers and contractors. The C&P team also strives to embrace circularity in its operations and supports its suppliers for the adoption of more sustainable practises by interacting closely with its suppliers and contractors.

The C&P processes ensure compliance of vendors with legal norms and regulations highest standards of ethics, social accountability practices and ensure effective risk mitigation practices.

International competitive bidding (ICB) is practised, and it enables sharing of risk and opportunity among partners and transparency. Due to this, Greenko was able to successfully secure smart contract agreements that met the IRESP requirements. During the current year, new C&P procedures exclusive to IRESP are implemented.

Greenko Sumez Hydro Energies Pvt. Ltd., Himachal Pradesh

Energy Transition Value Pools Intelligent Renewable Energy Storage Platform

The Integrated Renewable Energy Storage Project (IRESP) combines digitally interconnected storage infrastructure with cost-effective variable power from solar and wind resources to deliver planned and flexible electricity to the grid. The IRESPs from Greenko are built with an extended life cycle and the high storage capacity (high volume of energy storage), resulting in the low cost of delivered SPOD (Schedulable Power On-Demand) energy during the project lifetime. Greenko has in-depth expertise on the elements of IRESP (civil engineering, electro-mechanical engineering) and the Company has started the construction of such projects.

Pumped Storage Hydro Power Project

The PSHPP consists of a powerhouse with hydropower electrical and mechanical equipment, a transmission connection to the grid, and two reservoirs - an upper and lower reservoir - that are connected by a waterway. Water is pumped from the lower reservoir to the upper reservoir when there is excess electricity available, which is often at night or on weekends when power demand is low or when there is an excess of solar generation during the day. When there is a spike in demand, water that has been stored in the upper reservoir is subsequently released, providing more value energy to the system. With the aid of energy storage systems like pumped hydro storage, it is now increasingly viable to store and use the extra energy from renewable energy sources.

Pumped Storage solution provides the necessary scale and long duration of energy storage and life cycle, resulting in affordable SPOD energy over the life of the projects. Developing such IRESPs in Wind and Solar resource-rich locations along with standalone Pumped Storage capacities, without impacting the existing natural systems is necessary to sustainably power the future needs of the nation while maintaining grid stability.

Compared to conventional carbon-emitting thermal plants, the PSHPP offers zero emissions. Generating capacity can be quickly dispatched and ramped up to meet demand, compensate for large swings in intermittent generation power injection, and provide contingency reserves to compensate for generation unit outages.

The advantages of PSHPP are:

  • Improved interconnector efficiency
  • Reduced interconnector investment
  • Reduced need for backup generation
  • Increased system resilience
  • Reduced system stress
  • Optimised load profile through the integration of hydro with wind and solar to make electricity more dispatchable
  • Has the capability of providing primary frequency control
  • Can support load levelling and energy arbitrage, reducing the overall system production costs by offloading expensive peaking generation during peak-demand periods, and by increasing usage of cheap baseload generation during low demand periods
  • Enabler for Transition to Circular Economy

Pinnapuram IRESP

Greenko has zeroed down on Pinnapuram, Kurnool District, Andhra Pradesh to be the ideal location after conducting extensive research and evaluation for potential areas for IRESPs throughout India. The Pinnapuram Integrated Renewable Energy Storage Project consists of a subsurface powerhouse complex with eight variable speed reversible TG units, waterways with seven tunnels and penstock pipes, power intake and pumping intake, upper and lower reservoirs enclosed by 9.84 km of 40 m high rockfill dams, power and pumping intake. The intelligent energy platform promises to deliver essential sustainable grid solutions.

The Pinnapuram IRESP designed as the largest Gigawatt Scale Integrated Project, combines pumped storage, wind, and solar energy. Schedulable Power on Demand (SPOD) is provided by the PSP, which serves as a green battery for storing wind and solar energy. The project offers consumers across India dispatchable and schedulable renewable energy.

The Pinnapuram IRESP is made up of the following major parts:

  • Standalone Pumped Storage Project (SPSP)
  • Solar and Wind Parks
  • The Central Pooling Substation (CPSS) - Intelligent Energy Platform

The Standalone Pumped Storage Project consists of two reservoirs that were built in already-existing natural depressions using rockfill dam embankments. Rockfill dam waterproofing will be done with Geo-membrane, lowest water infiltration rate, great flexibility and plasticity, minimal maintenance, excellent damage resistance, etc. are all features of the Geo-membrane Faced Rockfill Dam (GFRD). Reduction in time of construction, less quality intervention and cost reduction made us to go for GFRD rather than AFRD, as explained in our previous integrated report. The project will be reusing 2.35 TMC of water for non-consumptive purposes to circulate it between the two proposed reservoirs.

The manner that CPSS is connected makes it easier to distribute energy across the country to various interstate users. An essential component of CPSS will be the Greenko Renewable Energy Management Centre, which will house the “Intelligent Energy Platform” (to forecast, monitor, balance, and offer the necessary energy and storage services). A double circuit transmission line that will be connected to the Pinnapuram IRESP central pooling station is envisaged for the generation or pumping of power.

The IRESP is a project that has identified as having the capacity to satisfy the changing demands of DISCOMs and STUs through RTC Base Load Energy for 24 Hours Each Day, as well as, by providing:

  • Base load energy for 18 hours, based on demand
  • Energy for a 12-hour peak load (6 hours plus 6 hours)
  • Ancillary Services, Grid Management, Frequency Management, and Energy Storage Service

“We, at Greenko, aim to set the benchmark for Green Procurement by ever-evolving processes. With the help of continuously upgraded automation system, moving towards, setting global standards in procurement, to achieve the three separate goals simultaneously:

  • Cost leadership
  • Growth
  • Create a sustainable advantage”

Manish Agnihotri VP – C & P

Key elements of the Pinnapuram Standalone PSP are:

  • Due to the absence of silt, there is little maintenance necessary, and pumped storage plants can operate all year round and with equal efficiency regardless of the season
  • Reservoirs have a small catchment area and are dispersed far away from all current natural water systems. Therefore, a CAT plan, spillways and embankments is not necessary
  • Double Fed Induction Motor Generator with adjustable speed designed to operate at maximum efficiency points under all conditions
  • The use of gas-insulated switchgear
  • The hydraulic short circuit provision-maintained flexibility between 0 and 100%
  • The availability of the spinning reserve (in condenser mode) to handle unforeseen load fluctuations in the grid. The project can produce reactive electricity to help the grid in event of a fault when operating in turbine condenser mode
  • Part load procedures can be carried out as many times as necessary throughout the day without affecting the machine’s overall life
  • No challenges with siltation, flash floods, environmental release, or the project’s effects on fisheries

Saundatti IRESP

The Saundatti IRESP include solar, wind, and pumped storage components. The project is in Belagavi district of the state of Karnataka and is currently in the design phase. The project is planned to include 1,260 MW (9-hour storage capacity) of pumped storage hydro, 400 MW of wind energy, and 1,000 MW of solar energy.

The Project’s Grid will be connected to the PGCIL/CTU sub-station in Dharwad for additional supply into the National Grid and across the country.

Projects under construction

Projects under development

“Recently, we are noticing a big momentum in corporate Net Zero commitments being made globally. As a part of it, we have started addressing our direct emissions, indirect emissions, including ‘Scope 3’ emissions arising from our upstream. This is just a beginning and at Greenko, we believe that a strategic and focussed approach towards effective supply chain process could be a vibrant enabler for climate action. We are therefore working closely with our suppliers and stakeholders to explore what it would take for global supply chains to transition to Net Zero most effectively.”

Ravi Shankar DVB AVP, Contracts & Procurement

“Intelligent Energy Cloud Storage Platform” for 24/7 Carbon Free Energy (CFE)

Greenko’s Intelligent Energy Cloud and Storage Solutions infrastructure delivers 24/7 CFE. Many in the hard-to-abate sectors are seeking carbon free energy to meet Net Zero or Science Based Targets and Greenko offers unique, dispatchable carbon free energy and decarbonisation solutions to customers in multiple sectors.

To ensure we can provide customers with 24/7 CFE, we are developing a unique, world’s largest energy cloud platform with 100 GWh of low cost, energy storage using proprietary closed loop, off-the-river pumped storage hydro technology. The platform will deliver over 100 TWh of managed energy [demand] across India, while ensuring that the renewable energy we generate is dispatchable 24/7 CFE.

This is a step change in decarbonising solution space. By being able to deliver carbon free energy to match customers’ electricity consumption anywhere and anytime and accelerate the drive towards Zero Carbon Future.

Committed to the United Nations 24/7 CFE Compact

Greenko is a signatory to the UN Carbon Free Energy Compact, along with a range of corporates, policy makers, investors, and NGOs. Together we are working to realise a carbon free energy future by making it possible to ensure that every kilowatt-hour of consumption is matched with carbon- free electricity production.

Through the 24/7 CFE Compact, Greenko is working to develop and scale technologies, support energy policies, improve procurement practices, and provide solutions to transform India’s energy system and enable rapid, cost-effective CFE every hour, every day, everywhere.

The 24/7 CFE Compact is based on five principles:

“We are constantly working on reducing the amount of packaging and the impact of the materials we use. We have reduced CO2 emissions from packaging. The biggest impact has been created by changing the material used for solar module packing.”

Mohiddin SK Senior VP, Contracts & Procurement

Financial Capital

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