Hyderabad: India’s green energy giant Greenko Energy Holdings and Japan’s ORIX Corp come together for a long-term partnership with significant investment from the latter.
ORIX Corp announced that it would invest at least USD 980 millions (Rs. 7000 crores) in the Greenko Energies Pvt Ltd acquiring 20 per cent of its stakes.
Japan’s ORIX Corp is a global giant with its business activities in about 38 countries spanning in industries including energy, infrastructure, ships and aircrafts, real estate and retail financial services, said a statement.
“We welcome ORIX as a long-term partner. The transaction will further drive capacity, revenue, EBITDA and overall earnings growth for Greenko and our stakeholders. Indian energy markets are transitioning from deficit markets to demand-driving contract requiring reliable, flexible and cost competitive energy. Greenko is focused on building IREP with storage, which can compete with conventional energy assets like thermal in quality, quantity and cost,” said Anil Chalamalasetty, Managing Director and Chief Executive Officer, Greenko.
Mr. Hidetake Takahashi, Head of Energy and Eco Services Business Headquarters of ORIX, said that “We are excited to partner with Greenko through investment, which represents a very important step for us in accelerating our corporate strategy of contributing to build a sustainable society.”
