Greenko Group in talks to acquire Gati Infrastructure’s hydro-electric project
Greenko Group is exploring the acquisition of Gati Infrastructure Pvt. Ltd’s (GIPL) 110 megawatt (MW) Chuzachen hydro-electric project in east Sikkim, two people aware of the development said.
Hyderabad-based Greenko, backed by Singapore’s sovereign wealth fund GIC Holdings Pte and Abu Dhabi Investment Authority, wants to acquire the privately owned project in India’s north east region as part of its strategy of becoming an integrated energy company. It has 21 operational hydropower projects with a total installed capacity of 379.8 MW.
“Five-six years ago, there were many players in the hydro sector. Now, most of them have pulled out of it. So, there are opportunities both in brownfield and operating assets with Greenko evaluating Gati’s Sikkim hydropower project,” said one of the two people cited above, requesting anonymity.