Latest news with #Greenko
Yahoo
2 days ago
- Business
- Yahoo
ORIX finalises Greenko share transfer deal
ORIX has announced its decision to re-enter a share transfer agreement, selling 17.5% out of its 20% holdings in affiliate company Greenko Energy to AM Green Power, a subsidiary of AM Green. This move by ORIX follows an initial agreement terminated in April 2025 due to unmet conditions. The transaction includes the partial sale of shares in India-based renewable energy firm Greenko and an investment in convertible notes issued by AMG Lux, the parent entity holding all shares of AMG. Regulatory approvals under the Indian Competition Act have been obtained. ORIX plans to close the partial transfer of Greenko shares and the guaranteeing of the convertible notes by end-July 2025. Greenko has an installed capacity of 7.3GW across solar, wind and hydroelectric power generation facilities in India, and is developing large-scale pumped storage power generation projects. The strategic divestment from Greenko aligns with ORIX's capital recycling strategy as they aim to reinvest funds into expanding sectors such as green molecules that contribute towards global decarbonisation efforts. AMG was founded by Anil Chalamalasetty and Mahesh Kolli who are also behind the establishment of Greenko. It focuses on developing green hydrogen and ammonia production projects alongside water electrolysis equipment manufacturing essential for green hydrogen production. AMG plans to produce five million tonnes per annum (mtpa) of green ammonia through its various projects. The initial project with a capacity of 1mtpa is under construction in Kakinada, Andhra Pradesh, India, with commissioning set for the second half of 2026. Binding term sheets have been signed by AMG with companies such as Uniper and Yara Clean Ammonia to supply green ammonia to Europe. Renewable energy remains central to ORIX's strategic growth areas as it continues expanding globally through solar, wind and geothermal power. ORIX acquired Elawan Energy, headquartered in Spain – a wholly-owned entity within the group portfolio currently managing 4.7GW worldwide capacity. In December 2024, the Greenko Group contracted AFRY to deliver comprehensive design engineering services for a 1.8GW Shahpur pumped hydro energy storage project in Rajasthan, India. "ORIX finalises Greenko share transfer deal" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Time of India
2 days ago
- Business
- Time of India
AM Green to buy 17.5% stake in Greenko from Orix for $1.28 billion
Orix Corporation will sell its 17.5% stake in Greenko Energy to AM Green for $1.28 billion, while investing $731 million in AM Green's convertible note for a 10% stake. This two-pronged transaction will increase Chalamalasetty and Kolli's ownership in Greenko to 28%, valuing the renewable utility at $7.5 billion. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Japanese financial group Orix Corporation has agreed to sell its 17.5% equity stake in Greenko Energy Holdings for $1.28 billion to AM Green (AMG), an entity promoted by Greenko co-founders Anil Chalamalasetty and Mahesh ORIX has also agreed to invest about $731 million in a convertible note issued by AM Green's Luxembourg-based parent, giving them a 10% equity stake in the operating company. ORIX expects to complete both transactions by the end of July, it said in a statement two-pronged transaction, once concluded, will see Chalamalasetty and Kolli cumulatively own 28% of Greenko held via their personal capacity as well as AM Green, valuing the renewable utility at $7.5 billion. Singapore's GIC (58%) and Abu Dhabi Investment Authority (14%) are other key shareholders of Greenko. At March-end, Greenko operated renewable energy power generation facilities with a total installed capacity of 7.3 GW, including solar, wind, and hydroelectric power generation. In addition, Greenko has also completed a 1.7 GW pumped storage project in Andhra Green also has plans to produce 5 million tonnes per annum (MTPA) of green ammonia , with the first 1 MTPA project under construction at Kakinada in Andhra Pradesh, expected to be commissioned in 2026. The project, which includes a green hydrogen unit and ammonia conversion plant at a repurposed urea facility acquired earlier this year from Nagarjuna Group, will cost about ₹12,500 has also signed green ammonia supply term sheets with Uniper SE, an energy company, and Yara Clean Ammonia, a trader and distributor of ammonia. AMG also has a joint venture with John Cockerill to manufacture electrolyzers that are used for producing green ORIX, the renewable energy business is one of its key strategic growth areas. It is developing its power generation business in Japan and outside. ORIX said the sale of 17.5% of its 20% shareholding in Greenko is part of its "capital recycling strategy.""ORIX aims to invest in the next generation of the energy sector (including green molecule) by using part of these funds, an area expected to grow rapidly," the Japanese financial services company said. "This transaction is a key milestone in building one of the world's fully integrated and scalable green energy platforms," said Anil Chalamalasetty, Founder and CEO of AM Green. ORIX's stake acquisition strengthens AM Green's upstream integration through Greenko, AMG said in a these agreements were previously announced in January but terminated in April after the underlying conditions were not met. "However, after further consideration among related parties, we have decided to re-enter into this agreement," ORIX said.
United News of India
2 days ago
- Business
- United News of India
AM Green Group acquires 17.5 pc stake in Greenko Energy Holdings from ORIX
Kakinada (Andhra Pradesh), June 30 (UNI) AM Green BV today said it has signed definitive documents to acquire 17.5 per cent equity stake in Greenko Energy Holdings from ORIX Corporation, through its wholly owned subsidiary AM Green Power BV. AMG will own 25 percent stake (along with AMG promoter's current stake) in Greenko post-closing of this transaction in July 2025, the company said in a release here. As part of this transaction, ORIX has also entered into an agreement to invest in a convertible note issued by AM Green (Luxembourg) S.à.r.l ("AMG Lux"), the parent company that holds all shares of AMG. This investment will provide ORIX long-term exposure to green hydrogen, ammonia, SAF and other next-gen molecules, aligning with its capital recycling strategy. 'This transaction is a key milestone in building one of the world's fully integrated and scalable green energy platforms,' said Anil Chalamalasetty, Founder and CEO of AM Green. 'We thank ORIX for their continued partnership and belief in our vision,' he added. ORIX stake acquisition strengthens AM Green's upstream integration through Greenko, one of India's leading renewable energy companies, operating over 10 GW of renewable and pumped storage assets. Greenko is on track to build the world's largest 'Intelligent Energy Storage Cloud Platform' with over 100 GWh of daily storage capacity by 2030. Founded in 2023 by Greenko co-founders, Anil Chalamalasetty and Mahesh Kolli, AMG is one of the largest fully integrated Power-to-X (P2X) platform with access to end to end industrial decarbonization solutions including renewable power (solar, wind, hydro), long-duration storage (pumped hydro), most competitive round the clock carbon free power and green molecules (green hydrogen, green ammonia, low carbon caustic soda, ethanol, and sustainable aviation fuel). AMG has plans to produce 5 million tonnes per annum (MTPA) of green ammonia, with the first 1 MTPA project under construction in Kakinada (Andhra Pradesh). AMG has also signed green ammonia supply term sheets with several industrial and power companies in the OECD markets including Uniper SE, an energy company, and Yara Clean Ammonia, a trader and distributor of ammonia. AMG has also signed globally the largest power purchase agreements for supply of round the clock carbon free energy for its first 2 MTPA green ammonia projects and has access to electrolyzers through its manufacturing JV with John Cockerill. AM Green's Kakinada industrial complex, currently under construction, will be the world's first and largest integrated green industrial zone. It will house 2 MTPA of green ammonia production, 2 GW electrolyzer gigafactory and facilities for SAF and green chemical production. In 2024, AMG acquired Chempolis, a Finland-based innovator in sustainable biomass processing, to support its Bio2X platform. Known for its low-emission, low-water, and zero-waste process, Chempolis technology offers a scalable solution for circular bioeconomy applications, aligning with AM Green's commitment to decarbonization. Greenko's flagship 1.7 GW pumped storage project in Andhra Pradesh has already been commissioned with its next two pumped storage projects in Madhya Pradesh and Karnataka (2.5 GWs) are expected to be commissioned in 2026 and 2027 respectively. UNI KNR RN
Japan Times
3 days ago
- Business
- Japan Times
Orix to sell $1.3 billion stake in Greenko to founders
Orix will sell most of its stake in Greenko Energy Holdings back to the Indian clean energy producer's founders for $1.28 billion. Tokyo-based Orix agreed to transfer a 17.5% holding in Greenko, out of its total ownership of 20%, to AM Green Power, which was established by the founders of Greenko, according to a statement on Monday. Orix will also invest about $731 million in a convertible note issued by parent company AM Green (Luxembourg) Sarl. Orix shares gained as much as 3.6% in Tokyo on Monday, their biggest intraday gain since April 10. AM Green aims to produce 5 million tons of green ammonia annually, and has the first 1 million tons-a-year project under construction in the coastal town of Kakinada in the state of Andhra Pradesh, the company said in a statement. The complex will also house a 2-gigawatt electrolyzer manufacturing factory as well as units to produce green chemicals, including sustainable aviation fuel. With Monday's deal, AM Green and its founders will own about 25% of Greenko, which is on track to build 10 gigawatts of renewable capacity and 100 gigawatt hours of daily storage capacity by 2030, according to the statement. Orix originally agreed to sell its entire stake in Greenko in January, but the pact was terminated by the Japanese company in April. The buyers had failed to agree with funding partners over financing of the transaction, Orix said at the time.
Bloomberg
3 days ago
- Business
- Bloomberg
Greenko Founders Borrow $650 Million to Buy Back Stake From Orix
The founders of Indian clean energy producer Greenko Energy Holdings have signed a $650 million private credit deal they will use to buy back most of Orix Corp. 's stake in the company, according to people familiar with the matter. They have secured a two-year loan from Keppel Credit, SeaTown Holdings International, BlackRock Inc., Varde Partners Inc., Broad Peak Investment Advisers Pte., Nomura Holdings Inc, and Sumitomo Mitsui Banking Corp., according to the people, who declined to be identified discussing private matters.
