Greenko Group | Renewable Energy & Storage Solutions Greenko Group | Renewable Energy & Storage Solutions

Greenko Group | Renewable Energy & Storage Solutions

Renewable Energy

Sustainable Development Goals

SDG 13 – Climate Action, SDG 7 – Affordable and Clean Energy, SDG 9 – Industry Innovation and Infrastructure

Company Overview

Greenko Group is an Indian renewable energy and energy transition company headquartered in Hyderabad, Telangana. Its founders, Anil Kumar Chalamalasetty and Mahesh Kolli, began building the business in 2004 and formally incorporated the company in 2006. Greenko develops, owns, and operates utility-scale wind, solar, hydro, and pumped-storage hydro power assets across multiple Indian states.

The company’s core proposition is converting intermittent renewable generation into firm, round-the-clock power through its Integrated Renewable Energy Storage Projects, which pair solar and wind generation with long-duration pumped hydro storage. Its flagship AP01 pumped storage project at Pinnapuram in Andhra Pradesh, with a capacity of 1.68 GW, has been commissioned, and additional pumped storage facilities are under development in Madhya Pradesh and Karnataka. Greenko has also built an intelligent, cloud-based energy management platform to digitally coordinate its generation and storage assets.

Beyond power generation, Greenko has extended into industrial decarbonization through green hydrogen and green ammonia production, supplying carbon-free molecules to industrial and export customers. The group is privately held, with sovereign wealth funds GIC and the Abu Dhabi Investment Authority among its shareholders, and its ultimate holding company, Greenko Energy Holdings, is incorporated in Mauritius. Greenko has partnered with major industrial groups, including ArcelorMittal, Hindalco, Jindal Steel and Power, and Granules India, to supply carbon-free energy for their operations, positioning the company as an infrastructure-level enabler of India’s industrial energy transition

Why These SDGs Matter

Greenko’s core business, developing and operating solar, wind, and hydro generation paired with storage, directly advances SDG 7 by expanding access to affordable, reliable clean energy and making renewable power dispatchable for grid and industrial use. Its investment in pumped-storage hydro, electrolyser manufacturing, and green hydrogen and ammonia production supports SDG 9 by building new energy infrastructure and industrial capacity for low-carbon fuels. Through its public commitment to The Climate Pledge, targeting net-zero carbon emissions by 2040, and its role supplying carbon-free power and green molecules to heavy industry, Greenko contributes to SDG 13 by enabling measurable reductions in greenhouse gas emissions across the energy and industrial sectors it serves.

Products & Services
  • Utility-scale solar power generation assets
  • Utility-scale wind power generation assets
  • Hydropower and pumped-storage hydro projects
  • Integrated Renewable Energy Storage Projects (IRESPs)
  • Cloud-based intelligent energy management platform
  • Long-term renewable power supply agreements
  • Green hydrogen production via electrolysis
  • Green ammonia production and export supply
  • Electrolyser manufacturing (via John Cockerill partnership)
Business Challenges Solved
  • Intermittency of solar and wind generation for grid operators
  • Need for round-the-clock, dispatchable renewable power
  • Industrial decarbonization for hard-to-abate sectors like steel and chemicals
  • Grid stability challenges from rising renewable energy penetration
  • Access to carbon-free fuel sources such as green hydrogen and ammonia
  • Long-term, fixed-price clean power procurement for large energy consumers
  • Digital monitoring and optimization of distributed energy assets
Approach & Methodology

Greenko’s operating model centers on Integrated Renewable Energy Storage Projects (IRESPs), which co-locate solar and wind generation with pumped-storage hydro facilities at a single site. This allows the company to store surplus renewable electricity generated during low-demand periods and discharge it on demand, converting variable renewable output into a firm, schedulable power supply comparable to conventional baseload generation.

The pumped-storage projects use a closed-loop, two-reservoir design: water is pumped to an upper reservoir using surplus renewable electricity and released through turbines to generate power when demand rises. Several of these projects, including the flagship facility at Pinnapuram, draw water on a one-time basis from existing irrigation reservoirs rather than continuous river withdrawal, reducing the hydrological footprint of the storage infrastructure.

To manage this distributed portfolio, Greenko operates a cloud-based energy platform that digitally monitors and coordinates generation, storage, and dispatch across its assets. For its move into green molecules, Greenko partners with specialist technology providers, including John Cockerill for alkaline electrolyser technology and Technip for engineering services, to produce green hydrogen and convert it into green ammonia for industrial and export customers. The company maintains an integrated management system covering quality, environmental, health and safety, and information security practices across its operating sites, certified against ISO standards by DNV-GL.

Market Position

Greenko operates at utility scale in the Indian renewable energy sector, positioning itself as an energy transition and decarbonization solutions provider rather than a conventional power generator. Its primary customers are state electricity utilities, large industrial energy consumers, and other renewable energy platforms seeking storage capacity. The company differentiates itself through its emphasis on long-duration pumped-storage hydro, a technology segment with high capital and development complexity that few Indian renewable developers have pursued at comparable scale. Its expansion into green hydrogen and ammonia production further distinguishes it from pure-play generation companies, positioning Greenko across both the power and industrial decarbonization value chains. Competing developers in this space include other large Indian renewable and independent power producer platforms.

Procurement Considerations
  • Confirm current operational capacity and specific project locations relevant to procurement region
  • Verify long-term power purchase agreement terms and pricing structure
  • Assess grid connectivity and transmission infrastructure for the relevant project
  • Review storage capacity commitments if round-the-clock power is required
  • Verify ISO certifications and safety track record for the specific operating site
  • Evaluate green hydrogen or ammonia offtake terms separately from power supply agreements
  • Confirm timeline commitments for projects still under construction
  • Assess counterparty risk given the company’s private ownership and evolving shareholder structure
Funding, Recognition & Ecosystem
  • Equity investors include GIC (Singapore), the Abu Dhabi Investment Authority, and ORIX Corporation (Japan)
  • AM Green Power B.V., linked to Greenko’s founders, acquired a 17.5% stake in Greenko Energy Holdings from ORIX in 2025
  • Financing secured from India’s National Bank for Financing Infrastructure and Development (NaBFID)
  • Debt facility from the Emerging Africa and Asia Infrastructure Fund
  • Signatory to The Climate Pledge, committing to net-zero carbon emissions by 2040
  • Golden Peacock Award for Corporate Social Responsibility
  • British Safety Council International Safety Award
  • RoSPA Gold Award for occupational health and safety performance
  • Green ammonia offtake partnerships with Uniper and Yara Clean Ammonia
Natnavi Analysis

Greenko occupies a distinctive position in India’s clean energy sector as one of the few developers to build its business model around long-duration storage rather than generation capacity alone. This focus addresses a structural problem in India’s power system: as renewable penetration rises, grid operators need dispatchable, schedulable clean power, not just more variable capacity. Greenko’s pumped-storage hydro portfolio and its cloud-based coordination platform represent a genuine attempt to solve that problem at utility scale.

The company’s expansion into green hydrogen and ammonia extends its relevance beyond the power sector into industrial decarbonization, an area where India has significant ambitions but limited operating infrastructure to date. Partnerships with steel, chemical, and pharmaceutical manufacturers suggest real demand for its carbon-free energy offerings among large industrial buyers.

At the same time, Greenko’s ownership structure has been in flux, with a significant 2025 transaction shifting shareholding between ORIX and AM Green, an entity linked to Greenko’s founders. Procurement teams evaluating Greenko as a long-term partner should track how this ownership transition settles, alongside the execution timeline for its pumped-storage and green ammonia projects, several of which remain under construction. Public reporting on the company’s financials, including total funding raised and current revenue, varies significantly across data aggregators, warranting independent verification for any commercial decision.

Sources & References
Website
Founded: 2006
Company Stage: Enterprise
Headquarters
Hyderabad, Telangana, India
Geographic Presence
Greenko’s operating assets are located across roughly 20 Indian states, with major project clusters in Andhra Pradesh, Telangana, Madhya Pradesh, Karnataka, and Rajasthan. The company supplies renewable power to state utilities and industrial customers across India, and its green ammonia output from the Kakinada facility is contracted for export to European buyers, extending its market reach beyond domestic operations.
Solution Type
Manufacturer, Service Provider, Software Platform
Sustainability Outcomes
Carbon Reduction, Energy Efficiency, Renewable Energy Adoption, Sustainable Infrastructure
Industries Served
Chemicals & Materials, Energy & Utilities, Government & Public Sector, Manufacturing, Mining & Metals
Certifications: ISO 14001, ISO 45001, ISO 9001
Last Reviewed: August 21, 2026

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