Greenko Acquires Lanco Hydropower Plant in India

Greenko Group Plc (GKO) acquired a 70-megawatt hydropower project from a unit of India’s Lanco Infratech Ltd. (LANCI) for 77 million euros ($104 million).

The plant in the Chamba district of northern Himachal Pradesh state will boost Greenko’s clean-power capacity by 15 percent to 546 megawatts, the Hyderabad-based company said today in a statement.

Greenko plans to buy two more hydro projects totaling 10 megawatts from Lanco Hydro Power Ltd. this year, it said. The company expects to reach 700 megawatts of capacity by mid-2014 as it completes four new wind farms.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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