Home / Industry / Energy /  Greenko ranked third in US’ Top 100 Green Utilities annual league table
Listen to this article

New Delhi: Hyderabad-based Greenko Group has been ranked third in the ‘Top 100 Green Utilities’ annual league table prepared by US’ Energy Intelligence.

“Greenko is the first Indian company to break into the top 10 of the coveted listing, which recognises companies leading the transition to a low carbon future. Among other Indian companies listed, NHPC is 25th, NPCIL at 33rd and Tata Power at 78th," Greenko said in a statement.

Hyderabad-based Greenko is backed by GIC Holdings Pte Ltd, Abu Dhabi Investment Authority and Japan’s ORIX Corp. While GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority currently hold 56% and 14%, respectively, in Greenko, Japan’s Orix Corp. has a 17.5% stake. Greenko founders Kolli and Anil Kumar Chalamalasetty own the remaining stake.

“‘Top 100 Green Utilities’ selects 100 of the world's largest electricity production companies and ranks them according to their CO2 emissions and their installed renewable energy capacity, to determine how much each group contributes to achieving a low-carbon electricity system. To assess their ‘greenness, each utility is evaluated for direct carbon dioxide emissions per megawatt hour of electricity produced and a measure of a company’s renewable energy capacity in gigawatts and in proportion to total capacity," the statement added.

Greenko Group has set up a joint venture (JV) with Belgium’s John Cockerill for electrolyzers as part of its green hydrogen and ammonia manufacturing plans. The Belgium-based maker of high-capacity alkaline electrolyzers will supply them exclusively to Greenko ZeroC, a unit of Greenko Group. In addition, the group will set up a 1 million tonnes per annum ammonia manufacturing plant for exports that require 2 gigawatts (GW) of electrolyzers. Green hydrogen is produced by splitting water into hydrogen and oxygen using an electrolyzer powered by renewable energy sources such as wind and solar.

“Greenko and others in the top 10 hold between half and all of their generating capacity in carbon-free technologies. Together, they own about 320 GW or 77% of carbon-free capacity — including 35% in non-hydro renewables, 27% in hydropower and 14% in nuclear. These 10 companies together boast average emissions of just over 100 kg CO2/MWh. This is 85% less than the top 10 companies from 2011, the first year that the widely-watched ranking was published," the statement said.

Greenko has India’s largest operational clean energy portfolio of 7.3 GW. It is also building power storage projects as part of its plan to provide on-demand power from wind and solar projects and partnering with state-run NTPC Ltd to develop round-the-clock power supply from renewable sources.

"Greenko has launched several Integrated Renewable Energy Storage Projects in multiple Indian states by providing utility-scale, clean and affordable energy to meet the country’s long-term energy security needs. With an operational portfolio to 7.3 giga watt (GW), Greenko has India’s largest operational clean energy portfolio," the statement said and added, “This week Greenko also raised $940 from a bond issue, attracting investors from Asia, US and especially Europe who typically regard India’s renewable commitment as progressive and pioneering. Till date Greenko has raised $4.44 billion from dollar bonds, pioneering the green bond structure."

Greenko aims to become a “net zero carbon company" by 2040 and has inked the “The Climate Pledge" thereby joining more than 200 companies to aim for the same.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Recommended For You
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsFeedbackRedeem a Gift CardLogout