Greenko to raise 60 million euros in London listing

Indian energy producer Greenko Group Plc. announced it plans to list on London’s junior stock market, AIM, to raise up to 60 million euros (US$85.7 million).

Greenko, which is building a portfolio of hydropower and biomass power plants and sells Carbon Emission Reduction units, said it plans to list in November.

Greenko is in the process of acquiring AMR Power Pvt. Ltd., a 25-MW hydropower plant in Perla Village of South Canara District in India’s Karnataka State. The plant is in an advanced state of construction and is to be operational from June 2008.

The company also is acquiring Rithwik Energy Generation Pvt. Ltd., another 25-MW plant in Karnataka’s Shamburi Village, South Canara, which also is to begin operation in June 2008.

Each of the hydro plants is to create 66,289 carbon emission reduction credits for sale.

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