GKO.L Regulatory News (GKO)

27 January 2015

Greenko Group PLC

("Greenko" or "the Group")

Operational Update

Greenko, the Indian developer, owner and operator of clean energy projects, today provides an operational update covering the final nine months of its revised financial year to 31 December 2014 ("the period"):

· Operational performance is in-line with market expectations

· Power generation in the period increased by 46% to 1,565 GWh, compared to the previous twelve months' generation of 1,072 GWh

· Installed capacity increased by 154 MW to 715 MW in the period, with all of the gain coming from new wind capacity commissioned

· The acquisition of the 70 MW Budhil hydro project in Himachal Pradesh was completed in June 2014

· Greenko announced on 4 December 2014 that it was changing its financial year end from 31 March to 31 December, effective in 2014

· The audited results for the 9 month period ending 31 December 2014 will be announced during March 2015

Operational projects

Overall, Greenko's operational performance was in line with expectations during the period. Although the 2014 monsoon started late, it continued for longer than usual in certain locations until mid-November. This helped the Group's wind assets, its northern hydro cluster and the Budhil Hydro 70 MW asset all to perform well.

Power generation increased by 83% to 1,565 GWh compared to the same nine month period last year, and by 46% when compared to the previous twelve months. The Group's wind portfolio contributed 660 GWh of this, with 640 GWh coming from the hydro portfolio.

Projects under construction

Greenko remains on track for its operational portfolio to exceed 1,000 MW this year, with all projects currently under construction being fully financed within budget.

Wind Projects

In line with Greenko's strategy to focus on larger, utility scale, wind farms, three wind projects (Ratnagiri, Rayala and Basavanabagewadi) which will have a total combined capacity of 540 MW when fully commissioned, made significant progress during the period. Following the opening of the first phases of these projects, the Group has now successfully opened additional capacities on a modular basis within shorter time periods than the initial phases. As a result, a total of 402 MW at these projects has now been commissioned, with 154 MW completed during the period.

There is now a total of 338 MW of wind projects under advanced construction, including three new wind farms, at Tanot (120 MW), Vyshali (100 MW) and Animala (60 MW). Firm orders have been placed with suppliers to complete these projects for the 2015 wind generation season.

Hydro Projects

Greenko currently has six hydro projects under construction, with a total capacity of 188.6 MW. The largest of these is the 96 MW Dikshu project in Sikkim, which is over 80% complete and on track to commence commercial operations during the 2015 hydro generation season. A further five hydro projects are at various stages of construction, with commissioning schedules falling between late 2015 and early 2016.

Outlook

The backdrop for renewable energy in India remains positive, as conventional power assets struggle to supply power to the grid due to fuel supply and off-take price issues. Greenko's wind and hydro portfolios are able to profitably supply power to compete with conventional generation in many states of the country.

Anil Chalamalasetty, CEO and MD of Greenko, said: "Our portfolio approach continues to deliver strong results. In the nine months to 31 December 2014, we have added 154 MW of new wind capacity and achieved a 46% increase in total power generation. Our ongoing initiatives to reduce our cost of debt, through our US$550 million Bond issue in August and the US$125 million long term loan from EIG in October, should further enhance our profitability.

With the Indian energy market becoming increasingly favourable towards renewable hydro and wind power, we remain very optimistic about the sustainability of our operational and financial performance, and we look forward to providing a more detailed update in March."

-Ends-

For further information please visit www.greenkogroup.comor call:

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