TIDMGKO

RNS Number : 1909M

Greenko Group plc

14 July 2014

14 July 2014

Greenko Group plc

("Greenko" or "the Company")

Review of Current Funding Arrangements and Overall Cost of Capital

Greenko, the Indian developer, owner and operator of clean energy projects, today announces that it is reviewing its current funding arrangements and overall cost of capital. In this regard, Greenko, through its subsidiary, Greenko Mauritius, has retained Deloitte Touche Tohmatsu India Private Limited ("DTTI") to assess and review a number of its power projects in India.

Following the publication of Greenko's preliminary results for the year ended 31 March 2014, released on 19 June 2014, Grant Thornton has now completed its audit, there have been no changes made to the figures and a clean audit opinion has been provided. A copy of the annual report will be dispatched to shareholders and placed on the Company's website shortly.

A copy of the full report from DTTI is on the Company's website at http://greenkogroup.com/investor/analyst_reports.php

Supplementary information that is being provided to potential investors is on the Company's website at http://greenkogroup.com/investor/business_info.php

-Ends-

For further information please visit www.greenkogroup.com or call:

 
 Greenko Group plc 
  Anil Chalamalasetty/Mahesh Kolli/ Vasudeva 
  Rao Kaipa                                     +44 (0)20 7920 3150 
 
 Arden Partners plc 
  Richard Day/Steve Douglas                     +44 (0)20 7614 5917 
 
 Investec Bank plc 
  Jeremy Ellis / Gary Clarence                  +44 (0)20 7597 4000 
 
 Tavistock Communications 
  Matt Ridsdale / Mike Bartlett/ Niall Walsh    +44 (0)20 7920 3150

About Greenko

Greenko is a mainstream participant in the growing Indian energy industry and a market leading owner and operator of clean energy projects in India utilising a de-risked portfolio of wind, run-of-river hydropower, natural gas and biomass assets. The Group is now focused on building new utility scale wind farms and hydropower projects across India. Greenko intends to increase the installed capacity it operates by winning concessions to develop and build new greenfield assets, as well as making selective acquisitions which enhance shareholder value.

Greenko's portfolio is carefully planned and managed to ensure it offers investors diversification and spreads its risk across a number of projects that utilise various well-proven environmental technologies. The Company's goal is to reach 1,000 MW of operational capacity in 2015 and approximately 2,000 MW in 2018.

With a core belief in sustainability both operationally and environmentally, Greenko endeavours to be a responsible business playing an important role in the community beyond its role in the power generation industry. The Company maintains a continuous involvement in localised projects and community programmes which centre on education, health and wellbeing, environmental stewardship and improving rural infrastructure.

Greenko Group plc was admitted to trading on the AIM market of the London Stock Exchange (LSE: GKO) in November 2007.

Important Information

This announcement and the information referred to in it, is provided by way of information only and is not an invitation or inducement to engage in any investment activity.

This announcement, and the information it refers to, may contain forward-looking statements, which are based on current expectations and projections (including projections contained in the projection report prepared by DTTI (the "Projection Report")) about future events and include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "should", "plans", "could", "seek to", "predicts", "projects", "estimates", "foresees" or similar expressions or the negative thereof. Any such forward-looking statements are based on a number of assumptions about the operations of the Company and factors beyond the Company's control and are subject to significant risks and uncertainties. In addition, the Projection Report is based upon a number of assumptions, including without limitation certain operating expenses and costs as set forth therein and not all the costs borne by the entities are necessarily included in the Projection Report. Accordingly, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this announcement. The Company has no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates. Given the aforementioned risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements as a prediction of actual results or otherwise.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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