Greenko to Build Indian Wind Farms, Sells $82 Million in Shares

Greenko Group Plc (GKO), a U.K. developer of clean-energy plants in India, said it won concessions to build wind farms with a combined potential of 650 megawatts, increasing its total portfolio of wind assets to 1,015 megawatts, according to a filing today from the Isle of Man- based company.

The developer said it began a partnership with General Electric Co. (GE) to carry out the projects and signed a memorandum of understanding for GE to supply, install, erect and maintain its XLE 1.6-megawatt turbines.

Greenko also raised 50 million pounds ($82 million) selling 22.22 million new shares with new and existing investors at 225 pence a share, below its 235.25 pence closing price yesterday.

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