Greenko boosts operating portfolio
Greenko, the Aim-quoted Indian clean energy specialist, said its operating portfolio will increase to 260 MW in early July from 214.6 MW currently when its first wind farm Ratnagir starts exporting power.
Greenko, the Aim-quoted Indian clean energy specialist, said its operating portfolio will increase to 260 MW in early July from 214.6 MW currently when its first wind farm Ratnagir starts exporting power.
The firm, which has been actively expanding its wind farm projects, said it was confident that the progress of its projects under construction will underpin significant growth in the next three years.
Greenko said it has a focussed development strategy with approximately 500 MW of projects currently in construction.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In its update, a few weeks ahead of the monsoon period, CEO and MD Anil Chalamalasetty said: "Our new wind farm is an important milestone, as wind power will accelerate our growth and create a diversified generating portfolio that delivers strong returns to shareholders."
"It also gives India its first large scale wind project built using an independent developer model. With the difficulties facing India's conventional power sector, hydropower - along with utility-scale wind power - is now the most attractive asset class in the country."
Greenko said turbines at its Ratnagiri Wind Farm are going through pre-commissioning trials, with first power production anticipated in early July. The remaining turbines are expected to be commissioned and to start generating during the current Monsoon season, it said.
Site work at its Basvanbagewadi Wind Farm is underway while site access work has started at its Balavenkatpuram Wind Farm.
Elsewhere key components of its Dikchu Hydropower project are progressing well, with the underground power house being prepared for turbine installation. Five small hydropower projects are also in construction, Greenko explained.
Greenko said its hydropower projects are running in line with management's expectations for this time of year.
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry