AM Green Acquires Stake in Greenko for Next-Gen Green Energy Expansion
Key Ideas
- AM Green BV acquires 17.5% equity stake in Greenko Energy Holdings from ORIX, enhancing their position in the renewable energy sector.
- ORIX's investment in a convertible note issued by AM Green aligns with their capital recycling strategy and provides exposure to green hydrogen, ammonia, and other next-gen molecules.
- The acquisition strengthens AM Green's upstream integration through Greenko, a leading renewable energy company in India with plans for significant storage and green ammonia projects.
- Greenko's projects include a vast capacity of operational renewables, daily storage capacity, and late-stage development projects for different low-carbon products using innovative technology.
AM Green BV has successfully secured a 17.5% equity stake in Greenko Energy Holdings from ORIX Corporation, solidifying its presence in the renewable energy industry. This strategic move, facilitated through its subsidiary AM Green Power BV, positions AM Green as a key player in the global shift towards sustainable energy solutions. ORIX's concurrent investment in a convertible note issued by AM Green's parent company, AM Green (Luxembourg) S.à.r.l, emphasizes their commitment to long-term involvement in green energy ventures, including green hydrogen, ammonia, and SAF.
The Founder and CEO of AM Green, Anil Chalamalasetty, expressed gratitude towards ORIX for their ongoing partnership, recognizing the significance of this transaction in advancing their vision for an integrated green energy platform. The acquisition not only bolsters AM Green's stake in Greenko but also enhances their upstream integration in collaboration with one of India's top renewable energy firms.
Greenko Energy Holdings, with its extensive operational renewable assets and ambitious storage projects, aims to establish the largest Intelligent Energy Storage Cloud Platform globally by 2030. Noteworthy components of Greenko's future plans include substantial daily storage capacity, green ammonia and hydrogen production facilities, and innovative projects utilizing Chempolis technology for low-carbon products. This acquisition signifies a significant step towards propelling sustainable energy practices and technological innovation in the renewable energy landscape.
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Renewable Energy
Investment
Energy Transition
Sustainable Development
Renewables Sector
Mergers And Acquisitions
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