AM Green Acquires Stake in Greenko to Propel Green Energy Integration
Key Ideas
- AM Green acquires a 17.5% equity stake in Greenko Energy Holdings, further expanding its green energy portfolio.
- ORIX Corporation will invest in AM Green's convertible note, showing confidence in sectors like green hydrogen and sustainable aviation fuel.
- AM Green is developing a large-scale green ammonia and green hydrogen production capacity in Kakinada, Andhra Pradesh, aiming to create the world's first integrated green industrial zone.
- The partnership between AM Green and Greenko signifies a significant step towards building a fully integrated and scalable green energy platform.
AM Green BV (AMG) has finalized agreements to acquire a 17.5% equity stake in Greenko Energy Holdings, increasing its total stake in Greenko to 25% post-acquisition. Founded by Anil Chalamalasetty and Mahesh Kolli, AMG aims to create a comprehensive green energy platform. The deal includes ORIX Corporation's investment in AM Green's convertible note, providing exposure to emerging sectors like green hydrogen, ammonia, and sustainable aviation fuel. AMG is a leading Power-to-X (P2X) platform globally, focusing on renewable energy and green molecule production. The company is actively developing significant green ammonia and green hydrogen capacities, with construction underway for a 1 MTPA ammonia plant in Kakinada, Andhra Pradesh. This facility will also house a 2 GW electrolyser gigafactory and sustainable aviation fuel production units, establishing a pioneering green industrial zone. AMG's strategic partnerships with global industry players like Uniper and Yara Clean Ammonia, along with secure green power purchase agreements, indicate a strong commitment to sustainable practices and innovation. The collaboration between AM Green and Greenko marks a crucial advancement in the transition towards a fully integrated and scalable green energy landscape, emphasizing the importance of renewable technologies and eco-friendly solutions.