IFIN has played an important support role in the growth of Greenko Group, a market leading owner and operator of clean energy projects in India. Acting as sole advisor/arranger as well as lender, IFIN has facilitated debt financing of over Rs 17,000 mn for Greenko's projects aggregating to 394 MW, primarily in the Wind sector.

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Innovations and Impact

  1. IFIN extended timely financing support to Greenko’s first wind sector initiative, a 101.2 MW Wind Farm Project in Karnataka. This was one of Greenko's first projects to have flexible debt repayment structure based on viability assessed over project life, bullet instalment at the end of the loan tenor.
  2. Through financial structuring and operational strategy, IFIN helped Greenko save time and resources in implementing a 120MW project in Rajasthan. While Greenko had planned to implement the project in multiple phases, the IFIN's services enabled them to carry it out in one go.
  3. Besides arranging long term debt for the above projects, IFIN has extended timely financing support to facilitate faster project implementation, and continuously introduced new lenders to Greenko through its extensive network of banking relationships. Such value-additions have defined the highly successful partnership between IFIN and Greenko.
  4. These renewable energy projects have helped to address the ever increasing demand for power in these states while reducing greenhouse emissions.

Timeline

2006 Greenko Group founded
November 2013 Discussions initiated with client (Tanot)
November 2014 Transaction launched (Tanot)
May 2015 Documents executed (Tanot)
August 2011 Discussion initiated with client (Fortune Five)
January 2012 Transaction launched (Fortune Five)
June 2012 Documents executed (Fortune Five)

Location

Multiple locations across India

Links

Greenko Group
India's leading clean energy company

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