Two of the proposed projects will be located in the state of Himachal Pradesh, as part of its existing hydropower cluster.
Remainder of the projects meanwhile, will be developed in the state of Arunachal Pradesh, forming a new 310MW cluster.
Construction of the projects is expected to commence by the end of 2013 and will be supported by the £100m equity investment secured from sovereign wealth fund, GIC.
Greenko CEO Anil Chalamalasetty noted, "We are pleased to announce the addition of 425 MW to our northern hydro projects, with expansion in Himachal Pradesh and the addition of Arunachal Pradesh, secure in the knowledge that we have the technical capability to deliver them and now the financial fire power, thanks to today’s announcement of a £100 million equity investment by GIC, one of the world’s leading sovereign wealth funds."
The company currently operates three hydropower clusters in the currently, located in the states of Himachal Pradesh, Sikkim and Karnataka.
The proposed projects will help the company meet its objective of having 1000MW installed capacity in the country by 2015, subsequently increasing to 2000MW in 2018.
