Other Deals
Renewable energy co. Greenko’s founders buy back $1.4 B stake from Orix Corp
The founders of Hyderabad-headquartered renewable energy company Greenko Group has acquired a 17.5% stake held by Japan's Orix Corporation for USD 1.4 Billion. Orix Corporation has invested in convertible notes of AM Green (Luxembourg) as part of its capital recycling strategy. Through these funds, ORIX aims to invest in the advanced technologies and systems of the energy sector (including green molecules), an area expected to grow rapidly as the world works towards achieving decarbonization.AMG is a platform focusing on decarbonization and green solutions and was established in 2023 by the founders of Greenko, Anil Chalamalasetty and Mahesh Kolli. AMG has been developing projects to produce green hydrogen and green ammonia, and to manufacture water electrolysis equipment that is essential for green hydrogen production.
For FY24, Greenko Group had reported about INR 2,595.40 Cr in Operating Income and about INR 362.62 Cr in Net loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
