Breaking News

Moelis & Co. Opens at $27 a Share, IPO Priced at $25
Tweet TWEET

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.

To contact the editor responsible for this story: Todd White at twhite2@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.