Greenko was founded in 2006 to develop, own and operate independent clean energy projects in the high-growth markets of Asia. Greenko is supporting India’s rapidly increasing energy demand and energy security needs with a vision to play a significant role in the sustainable development of emerging economies. In just three years of operation the company is one of the largest players in the renewable energy market in India having a number of small biomass & small hydro projects spread across the country. Currently it is Operating 41.5MW of power generating plants using biomass, and will be adding another 59.5 MW of small hydro power which will come on stream in 2009 season. In addition to the above 168MW of licenses are under development. The company has set itself a target of 400MW by 2012 and 1000MW by 2015.
To scale faster, Greenko has secured an Indian interstate trading licence which will allow it to sell electricity on the open market at a better premium. Ultimately, the company plans to develop from an owner operator to a developer of projects. Recent news reports suggest that Greenko has managed dramatically higher tariffs at several plants.