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Only Investment Bank In India Focused Exclusively In Clean Energy & Sustainable Technologies

About Us

Enabling A Sustainable Future

Greenstone is an advisory firm focused exclusively on the Indian renewable energy and sustainable technologies sectors. We have assisted in many pivotal renewable energy transactions in the areas of M&A, capital raising, project finance and strategic advisory.
Founded in 2014, Greenstone has served clients across the solar, wind and hydroelectric projects and has worked with some of the world's largest and most reputable investors and developers. We offer specialist advice to public and private corporations, institutions, private individuals, and sovereign entities.
Greenstone applies the highest levels of integrity to everything it does. We take pride in our honest, specialized, and resourceful approach to investment banking.
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solar-panel

Our Services

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We differentiate ourselves with a single team approach, synergy across transaction experiences and commitment to successful execution. Our approach to each transaction is underpinned by the importance of building a market-leading reputation.

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CAPITAL RAISING
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MERGERS & ACQUISITIONS
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ADVISORY

TRANSACTIONS

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Utility-Scale

2024

gridspertise3
Smart Metering Partnership

Strategic Advisor

2024

Vestas
Sale of Wind Mast Portfolio

Exclusive Financial Advisor

2023

CFM
Financial Modelling Advisory

Strategic Advisor

2023

Masdar
Strategic Advisory

Strategic Advisor

2022

enel-green-power
Strategic Advisory

Strategic Advisor

2021

aimco
virescent
Equity Investment

Exclusive Financial Advisor

2021

masdar
Strategic Advisory

Strategic Advisor

2021

caat
Strategic Advisory

Strategic Advisor

2021

lightsource-bp
torrent-power
Sale of 60 MW Solar Portfolio

Exclusive Financial Advisor

2021

frv
indigrid
Sale of 138 MW Solar Portfolio

Exclusive Financial Advisor

2020

sterlite-power
Market Entry Strategy

Strategic Advisor

2020, 2019, 2018, 2017

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Power & Renewables Group

Strategic Advisor

2019

tata-power
Capital Raising Strategy

Strategic Advisor

2019

orsted
Market Entry Strategy

Strategic Advisor

2018

indian-energy
renew-power
Sale of 41 MW Wind Portfolio

Exclusive Financial Advisor

2017

sky-power-global
Sale of 420 MW Solar Portfolio

Strategic Advisor

2017

kct-group
renew-power
Sale of 105 MW Wind Portfolio

Co-Financial Advisor

2016

cpp-investment-board
renew-power
Relationship Investments

Strategic Advisor

2016

punj-llyod
india-power
Partnership For 36 MW Solar Project

Exclusive Financial Advisor

2016

punj-llyod
idfc
Sale Of 45 MW Solar Project Portfolio

Exclusive Financial Advisor

2016

solopower
bharat-light-power
Joint Venture Formation

Exclusive Financial Advisor

2015

aditya-birla-group abraaj-capital
Formation of 1 GW Solar Joint Venture

Exclusive Financial Advisor

2014

amp-renewables

AMP RENEWABLES

US$ 250mm Corporate Capital Formation

Co-Financial Advisor

Distributed Generation

2023

NextEnergy
C&I Investment Advisory

Exclusive Financial Advisor

2023, 2022, 2021

downing
C&I Investment Advisory

Exclusive Financial Advisor

2021

cleantech-solar
niif-ifl
US$ 30mm Refinancing Operational Projects

Exclusive Financial Advisor

2021

cleantech-solar
tata-cleantech-capital
US$ 45mm Debt Financing Open-Access Projects

Exclusive Financial Advisor

2021

cleantech-solar
tata-cleantech-capital
US$ 40mm Debt Financing Open-Access Projects

Exclusive Financial Advisor

2021, 2019, 2018

dmi-finance

DMI FINANCE

Investment Analysis C&I Portfolio

Exclusive Financial Advisor

2020

rays-power-infra
eversource
Investment Analysis C&I Portfolio

Exclusive Financial Advisor

2020

cleantech-solar
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US$ 85mm Southeast Asia Debt Financing

Exclusive Financial Advisor

2020

cleantech-solar
sbi
US$ 15mm Rooftop Debt Financing

Exclusive Financial Advisor

2020

cleantech-solar
tata-cleantech-capital
US$ 35mm Debt Financing Open-Access Projects

Exclusive Financial Advisor

2019

the-oberoi-group
Captive Power Procurement Strategy

Exclusive Financial Advisor

2018

bloomenergy
Capital Formation & Project Financing

Exclusive Financial Advisor

2016

kotak-solar
amplus-solar
Sale of 1.3 MW Rooftop Solar Project

Exclusive Financial Advisor

2015

lnt alkyl
Debt Financing for 2 MW Open-Access Solar Project

Exclusive Financial Advisor

2015

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rattan-india
Sale of 563 kW Rooftop Solar Portfolio

Exclusive Financial Advisor

2015

zolt-energy
Residential Rooftop Solar Portfolio Financing

Exclusive Financial Advisor

2014

sunsource-energy
Sale of 250 kW Rooftop Solar Project

Exclusive Financial Advisor

2014

sunsource-energy
rrb-energy
Sale of 183 kW Rooftop Solar Project

Exclusive Financial Advisor

Awards

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Clean Energy Investment Forum, Best Investment Bank (2019)

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Integrated Achievers Forum, Business Excellence (2019)

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EQ International Awards, Solar Industry "Young Guns" (2019)

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Global Energy Awards, Best Renewable Energy Advisor in Southeast Asia (2018)

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Consultants Review Magazine, 10 Most Promising Consultants in Mumbai (2018)

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Solar Quarter, 40 Under 40 (2018)

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US-India Clean Energy Finance, Recognized Service Provider (2018)

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India Achievers Forum, Best Emerging Company (2018)

Our Team

Our strength and confidence derive from our team. Each member of our team brings their own brand of talent and sweeping experience to every deal.

Rahul Goswami

RAHUL GOSWAMI

Managing Director

Rahul Goswami is the founder and Managing Director of Greenstone. Prior to Greenstone, Rahul worked in New York with Ewing Bemiss & Co. advising on capital formation for solar and wind companies in North America. Rahul has over thirteen years of experience in renewable energy financing and has closed over 45 transactions representing more than $8bn of capital commitments. He has experience with leading developers including NextEra, EDF, Duke Energy, Terra-Gen Power, GE, Aditya Birla Group, SunEdison, NRG and FirstSolar. Rahul holds a B.S. in Economics from the Wharton School at the University of Pennsylvania with a concentration in Finance.

Amit Mehta

AMIT MEHTA

Executive Director

Amit has ten years of experience in the investment banking industry. Prior to joining Greenstone, he worked with Goldman Sachs in their investment banking team covering the natural resources sector with a focus on the energy segment. He has worked on various sell-side transactions for North American based companies. Before going to business school, he worked as an automation engineer with Siemens. ​Amit has an MBA in Finance from NMIMS, Mumbai and has an Engineering degree in Electronics from SPCE, Mumbai.

Ankit Nimodia

ANKIT NIMODIA

Associate

Ankit has seven years of experience in investment banking. Prior to joining Greenstone, he worked with Hannam & Partners, a London based boutique merchant bank focused on natural resources. He has worked on various M&A and capital markets transactions for European and US listed mining and oil & gas companies. Ankit holds a MSc. Economics and B.E. Manufacturing degree from BITS – Pilani.

Nitish Shankar

NITISH SHANKAR

Associate

Nitish has six years of experience in investment banking. Prior to joining Greenstone, he worked in M&A team with BA Continuum India, a nonbank subsidiary of Bank of America Merrill Lynch. He has worked on various sell-side and buy-side M&A, leverage buyouts and equity financings for EMEA based companies. Before his MBA, he worked as an electrical engineer with Vedanta Aluminium. Nitish holds an MBA in Finance from SIBM, Pune and B.Tech. in Electrical and Electronics Engineering from SASTRA, Thanjavur.

Rushabh Shah

RUSHABH SHAH

Analyst

Rushabh has one and half years of experience in investment banking. Prior to joining Greenstone, he worked with Incorp Advisory Services, a Singapore-based financial advisory and business consulting firm. He has worked on various strategic consulting, financial advisory, and debt transactions. Rushabh is a Chartered Accountant from Institute of Chartered Accountants of India (ICAI).

Sangita Salunke

SANGITA SALUNKE

HR, Compliance & Administration

Sangita has fifteen years of experience in Admin and Accounting. Prior to Greenstone, she worked with GFK India, a data analytics company based in Gurgaon focused on collecting and processing data on consumer behavior. Previously, she worked in accounts for four years with Podar International School. Sangita holds a B.Com degree from Mumbai University.

ADVISORY BOARD

Hemendra Kothari

HEMENDRA KOTHARI

Advisory Board

Mr. Hemendra Kothari heads DSP Investment Managers, one of the leading asset management firms in India. He retired as Chairman of DSP Merrill Lynch in 2009. Mr. Kothari represents the fourth generation of a family of prominent stock brokers and was elected as President of the Bombay Stock Exchange in 1991-92.
Mr. Kothari has been involved in over 1,000 transactions in India and is recognized as one the leading investment bankers in the market. Over his career, his firm has led many of the largest energy related IPOs including Adani Power, Reliance Power, Suzlon, Power Finance Corporation, GMR, Reliance Petroleum, ONGC, JP Infrastructure, Coal India, Punj Lloyd, Cairn India, GMR, INOX Wind and numerous others.
Mr. Kothari is also the Founder, Chairman & Managing Trustee of the Wildlife Conservation Trust and Hemendra Kothari Foundation. He is also a Member of the State Board for Wildlife of Maharashtra and Rajasthan under the Chairmanship of the respective Chief Ministers. Mr. Kothari is a Member of The Energy and Resources Institute (TERI) Governing Council. He was conferred a doctorate honoris causa by the TERI University in February 2014.
Mr. Kothari is acting as an advisor to Greenstone and provides guidance with regard to strategy, investor approaches and negotiations.

Deepak Parekh

DEEPAK PAREKH

Advisory Board

Mr. Deepak Parekh is the Chairman of Housing Development Finance Corporation Limited (HDFC). He was appointed as the Managing Director of HDFC in 1993 and served in this position till 2009. Currently, Mr. Parekh is also the Chairman of HDFC Asset Management, HDFC Life Insurance Co and HDFC Ergo General Insurance Co.
Mr. Parekh is on the Board of several leading corporations across diverse sectors. He is the Non-Executive Chairman of Siemens Ltd and BAE Systems India (Services). He is also on the Boards of Indian Hotels, National Investment and Infrastructure Fund (NIIF) and International Boards of DP World, Vedanta Resources and Fairfax Financial Holdings. He is on the Indian Advisory Boards of Coca Cola India, Boston Consultancy Group and Accenture and international Advisory Boards of Lafarge International, Nomura and Warburg Pincus.
Some of the international organizations which Mr. Parekh is associated with in an advisory capacity, include Indo US CEO Forum, City of London - Finance Committee, Indo - German Chamber of Commerce (IGCC), India-UK Financial Partnership (IUKFP).
He was honored with one of the highest civilian awards, the Padma Bhushan, by the Government of India in 2006. The Mayor of London in 2017 named Mr. Parekh as first of a network of international ambassadors for championing London across the globe.
Mr. Parekh played a key role as Special Director on the Satyam Board in 2009 to revive the company and a crucial role during the restructuring of UTI in the late 90’s, which helped regain investors’ confidence. Mr. Parekh was a member of various high-powered economic groups, advisory committees and task forces which include infrastructure, housing, financial services and capital markets.

Greenstone Advisors LLP

11th Floor, Mafatlal Centre, Vidhan Bhavan Marg Nariman Point, Mumbai, Maharashtra, India 400021

+91 22 4750 1287

info@greenstoneadvisory.com

Location