News

May 07, 2008

Aim-Traded Greenko Looks Well Positioned For Growth In India

By Ivor Watt

The Indian economy is forecast to grow at around nine per cent per year, and it’s that simple statistic that lies behind India’s rapid emergence as one of the potential economic powerhouses of the 21st century. But the country’s rapid growth is putting an intolerable strain on its power infrastructure and natural resources. And there’s also concern about the potential environmental impact of Inda’s burgeoning power use. It’s in this context that there’s been a blossoming of green energy projects focussing on the country, and Aim-quoted Greenko is attempting to position itself as a growing India-focussed green energy producer.

The company formed in early 2006 and floated in London last year. In the process it raised £30 million which was earmarked for the assembly of a clean energy portfolio. The plan was to produce a twofold revenue stream, consisting of income from power production, and income from the sale of carbon emissions reduction certificates (CERs) produced by the company’s power projects.

Greenko has acted quickly and already has 90.5MW of power production contracted, including six biomass plants and two...