The Hyderabad-based clean energy company Greenko Group has reportedly resumed the deal to buy Orange Renewables from Singapore’s AT Capital Group for approximately $925 million. As per trusted sources, the deal is estimated to rank among the biggest in India’s renewable energy space.

1. Greenko-Orange Renewable deal
back on track, valued at $925
million
By CMFE Research

2.  The Hyderabad-based clean energy company Greenko Group has reportedly
resumed the deal to buy Orange Renewables from Singapore’s AT Capital Group
for approximately $925 million. As per trusted sources, the deal is estimated to
rank among the biggest in India’s renewable energy space.
 Backed by GIC Holdings Pvt. Ltd and Abu Dhabi Investment Authority, Greenko
Group was set to acquire Orange Renewable for an enterprise value of about $1
billion in June, but it called off the deal later.
 According to sources familiar with the development, Greenko-Orange deal is going
through and the potential deal that had been on and off the table has finally been
confirmed.
 On 11 September, sources reported that investment giant Rothschild Inc. resumed
the process of seeking a buyer for Orange. The deal is now approaching
completion at a discount amounting to nearly $75 million, with Greenko estimated
to earn an equity payout of about $300 million.

3.  Sources have reported that India’s plan to suffice 40% of its electricity needs
through non-fossil fuels by the year 2030 has led to the growing interest of foreign
companies in the country’s emerging green economy. Having invested $42 billion
so far, the country’s renewable energy capacity has increased to 72 gigawatts (GW).
Apparently, India is following its goal of adding 175 gigawatts of green energy by
the year 2022.
 Post completion of the transaction, Greenko’s total renewable energy operating
capacity will be up by around 1 gigawatt to 4.2 gigawatts, which is India’s second
largest after ReNew Power Ventures Pvt. Ltd.
 In June Greenko had stated that, GIC Holdings Pvt. Ltd and ADIA are to collectively
invest $395 million in the company in what is said to be one of the biggest funding
rounds by an Indian clean energy manufacturer.
 While GIC and ADIA own 60% and 14% of stake in Greenko with an investment of
$1.5 billion to date, founders Kolli and Anil Kumar Chalamalasetty together own
26% in the company, cite sources.

4. CMFE Research
Media & News
For More Information @ https://bit.ly/2OLEBff
 Follow us on…