Aloe Environment Fund II investment in Greenko SA
Aloe Environment Fund 2 participated in the €11 million pre-IPO round of Greenko in Q1 2007. Transaction has been made in two tranches, with a total consideration of €8 million. The money will be used to augment its asset base, pre IPO. This latest finanacing round has been shared with a strategic Indian Investors specialized in the renewable energy sector. The company had been incorporated beginning 2006 following an investment by Aloe environment Fund I.
Initially focussed on a consolidation of biomass power assets, Greenko now sees the prospect of engaging into the aggregation of valuable assets relying on other renewable energy sources like hydro and wind power assets.
The company recently completed the acquisition of Roshni Powertech Ltd, a 6MW biomass based power plant located at Ayyanku village, Andhra Pradesh, bringing its current portfolio to 25.5MW in operation of and 27MW in construction.
In order to accelerate its growth, Greenko is investigating the feasibility of floating the business on the London AIM market, and the admission process is due to start imminently.