Greenko bids for Reliance Infra Mumbai power biz

Greenko bids for Reliance Infra Mumbai power biz
03/10/2017 , by , in ALLIED

Renewable energy company Greenko is seeking to acquire Mumbai electricity assets of Anil Dhirubhai Ambani Group’s (ADAG) Reliance Infra for a whopping $2.1 billion (about ₹13,000-14,000 crore).

This deal, if it goes through, will be one major diversification for the renewable energy company based in Hyderabad, as it is seeking to bid for distribution assets which are consumer facing and comes along with a dedicated 500-MW thermal power plant. All through, Greenko has been a power generation company as an independent power producer (IPP), and supplying to state electricity distribution companies.

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