Global energy investor EIG Global Energy Partners has invested US$125 million in India-based renewable energy developer Greenko Group. EIG has invested through a six-year instrument with a cash coupon of five percent per annum and a payment-in-kind (PIK) coupon of six percent due on maturity, with the option of converting the PIK coupon to Greenko shares. Greenko intends to use the proceeds of the investment to refinance a US$70 million convertible debt facility that was provided by banking and financial services company Standard Chartered in 2011. The capital injection will also support the development of Greenko’s 2.2 gigawatt portfolio of hydro and wind assets.