GKO Greenko

TIDMGKO

RNS Number : 3167B

Greenko Group plc

03 March 2014

03 March 2014

Greenko Group plc

("Greenko" or "the Company")

Directorate Change

Greenko, the Indian developer, owner and operator of clean energy projects, today announces that after eight years on its board, Dr Vivek Tandon will be stepping down as a non-executive director on the 7(th) March 2014, due to the increasing demands on his time from his other directorships. Dr Tandon was instrumental in shaping Greenko in its early days, helping guide the Company from inception, both as a board member and an investor on behalf of Aloe Environment Fund, and later with Aloe Environment Fund II and Green Investment Asia Sustainability Fund.

Commenting on the news, Anil Chalamalasetty, CEO of Greenko, said: "I would like to thank Vivek for his outstanding contribution and tireless service over many years. Vivek's early recognition of Greenko's potential, and his support as our first investor through Aloe Private Equity, helped put us on track for 700 MW by 2014's monsoon and over 1,000 MW in 2015. On behalf of the entire Board I would like to wish Vivek, and the entire Aloe team, all the best for the future. Vivek's energy, dedication and support will be missed by everyone in the Company."

Commenting on the news, Vivek Tandon said: "It has been a pleasure being a part of Greenko's growth story over the years and seeing it flourish, from an idea to a highly successful business with over 1,000 people, led by a passionate and hard-working management team. I would like to thank Anil Chalamalasetty and Mahesh Kolli for their entrepreneurial spirit and their friendship."

-Ends-

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

Greenko Group plc

Anil Chalamalasetty / Mahesh Kolli +44 (0)20 7920 3150

Vasudeva Rao Kaipa / Mark Thompson

Arden Partners plc

   Richard Day / Adrian Trimmings                                     +44 (0)20 7614 5917 

Investec Bank plc

   Jeremy Ellis / Gary Clarence                                             +44 (0)20 7597 4000 

Tavistock Communications

   Matt Ridsdale / Mike Bartlett                                           +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.

Aloe Private Equity

Aloe Private Equity is a private equity investment company founded in 2004 by Dr Vivek Tandon and Jean-Pascal Tranié. It specialises in environmental and socially sustainable investments, with a primary focus on investing in companies developing technologies in the sectors of clean energy, waste recycling and eco-process. Aloe has raised and currently managed three environmental funds. In 2011, Aloe Group won the title of Sustainable Asset Manager of the Year of the FT/IFC Sustainable Finance Awards and in 2012 won the award for Sustainable Investment of the Year. The company's operations cover both Europe and Asia. At the present, the firm has offices in the UK, France, India and China.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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