Greenko splurges €77 on 70 MW hydropower asset

It's operating hydropower portfolio hit 245 MW.

In a release, Greenko, the Indian developer, owner and operator of clean energy projects, announced that it has agreed to acquire the Budhil 70 MW run-of-river hydropower plant in the Chamba district of Himachal Pradesh, near Greenko’s existing assets.This will bring Greenko’s total operating hydropower portfolio to 245 MW and its total generating portfolio to 546 MW – a 77% increase in total capacity since the start of the current financial year.

The total value of the acquired assets is approximately €77 million, funded in-line with the Company’s current portfolio from project finance debt and internal resources. On average the project is expected to have a plant load factor (PLF) of 57% and deliver an average of approximately €14 million of EBITDA over the long term, based on current exchange rates.

Following the acquisition, Greenko will have 12 run-of-river hydropower projects operating in its Himachal Pradesh cluster, totalling 141 MW.

A further four wind farms, totalling 151 MW, are expected to be commissioned by the start of 2014’s main generating season, which begins with the monsoon in July. Greenko’s total portfolio of 2,000 MW is in advanced development and the Company remains on track to have the first 1,000 MW operational during 2015