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GIC Reviewing Options For Its $5bn Stake in Greenko
December 10, 2024
GIC is considering a strategic review of its 50% stake in Greenko Energy Holdings, including a potential sale, according to sources. The Singapore state investor is exploring options for a full or partial sale, with preliminary interest from investment funds and strategic firms. However, the decision is still in the early stages, and GIC may choose not to proceed with a deal, which could value Greenko at approximately $10bn. Greenko has a net installed capacity of 7.5 gigawatts across wind, solar, and hydro power in India and is backed by organizations like ADIA and Orix Corp. The company may also seek to raise funds in the coming months to help its growth, the sources added.
Greenko’s bonds traded stable with its 5.95% 2026s at 99.3, yielding 6.38%.
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