ORIX: Invested in Greenko Energy, India: GIC 65.8%, ADIA 16.5%
September 11, 2020
Orix:
We have recently signed a basic agreement regarding the acquisition of a portion of the shares of Greenko Energy Holdings (Headquarters: Mauritius) in India.
Going forward, we aim to complete the stock acquisition procedure by the end of the year through due diligence and legal procedures.
Greenko:
It owns one of India’s two largest renewable energy companies.
Solar power,
Wind-power generation,
Hydroelectric power generation, etc.
Operates an operating renewable energy power generation facility with a total installed capacity of 4.4 GW.
In addition to the 1.2GW hydroelectric power generation business, we have a total of 8GW of projects under development.
Status of investment:
Currently, GIC holds a 65.8% stake and ADIA holds a 16.5% stake.
We have secured long-term power sales agreements (PPAs) for more than 20 years on average for Indian state-owned organizations and state power corporations, and have built a high growth potential and a stable earnings base.
In 2016, we entered the wind power generation business in India (total installed capacity: 873 MW) through joint investment.
ORIX Corporation
https://www.orix.co.jp/grp/company/newsroom/newsrelease/200911_ORIXJ.html
Orix Plans to Invest in Greenko Energy
Posted on 09/11/2020
Japanese corporation
are keen on renewable energy companies in Asia.Tokyo-based Orix Corporation
plans to invest US$ 980 million in Hyderabad-based Greenko Energy Holdings for an estimated 20% stake.Greenko Energy
is a wind and solar developer in India.Singapore’s GIC Private Limited
is the largest shareholder in Greenko, owning a 65% ownership stake.“In addition to acquiring Greenko’s issued shares from the founders’ group, Orix will integrate its entire wind power generation business in India, into Greenko in exchange for the power firm’s new shares,”
Orix said in its press release.
– SWFI
https://www.swfinstitute.org/news/81428/orix-plans-to-invest-in-greenko-energy