Greenko, an Indian developer, owner and operator of clean energy projects, has entered into an agreement to acquire Hemavathi Power & Light Pvt Ltd, which operates a 24-MW run-of-river hydropower plant. It is expected that the acquisition of HPL will be complete in the next few weeks.
HPL is a 24-MW operating run-of-river hydro asset situated on the Hemavathi River in the state of Karnataka. The Hemavathi River is an important tributary of the Kaveri, one of India’s largest rivers.
Greenko is expected to pay EUR26 million (US$33.1 million), including net debt and liabilities, for Hemavathi Power & Light.
The acquisition would increase the secured capacity of Greenko from 587 megawatts to 611 megawatts and its operating capacity from 159 megawatts to 183 megawatts.
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