AMG Green Power and ORIX seek CCI nod for stake realignment in Greenko Energy
In a significant development for the renewable energy sector, AMG Green Power B.V. (AMG Power) and ORIX Corporation (ORIX) have approached the Competition Commission of India (CCI) for approval of a proposed transaction involving Greenko Energy Holdings (GEH) and AM Green (Luxembourg) S.À.R.L. (AMG Lux).Â
The transaction aims to realign shareholding and strengthen investment ties within the renewable energy ecosystem.
The deal involves AMG Power acquiring a stake in Greenko Energy Holdings from ORIX, establishing itself as a key investor in India’s clean energy landscape. In parallel, ORIX plans to subscribe to convertible notes issued by AMG Lux, signalling a long-term commitment to fostering growth in the sector. While AMG Power and AMG Lux currently do not have operational activities, ORIX operates extensively in India through its involvement in automobile leasing, financial services, infrastructure investment, asset management, and power generation.
Greenko Energy Holdings stands out as a pivotal player in India’s renewable energy space. Its diversified portfolio of assets spans wind, solar, hydro, and energy storage technologies. Its operations are spread across multiple states, positioning the company as a leader in driving India’s clean energy transition.
The parties to the transaction have stated that the proposed deal does not raise competition concerns. However, they have highlighted specific market intersections for consideration, including the generation of renewable energy paired with the production of green hydrogen and green ammonia, as well as synergies between electrolysers and renewable energy generation. These areas align with India’s strategic push toward green fuels and sustainable energy solutions.
This move underscores the growing momentum in India’s renewable energy market, driven by the government’s ambitious targets and supportive policies. If approved, the transaction could accelerate investments in clean energy infrastructure, paving the way for enhanced foreign participation and technological advancements in the sector.Â
The realignment between AMG Power, ORIX, and Greenko is a testament to the robust growth potential of India’s green energy landscape, reinforcing its position as a global leader in sustainable energy initiatives, economy watchers said.
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