ORIX finalises Greenko share transfer deal

ORIX has announced its decision to re-enter a share transfer agreement, selling 17.5% out of its 20% holdings in affiliate company Greenko Energy to AM Green Power, a subsidiary of AM Green.

This move by ORIX follows an initial agreement terminated in April 2025 due to unmet conditions.

The transaction includes the partial sale of shares in India-based renewable energy firm Greenko and an investment in convertible notes issued by AMG Lux, the parent entity holding all shares of AMG.

Regulatory approvals under the Indian Competition Act have been obtained.

ORIX plans to close the partial transfer of Greenko shares and the guaranteeing of the convertible notes by end-July 2025.

Greenko has an installed capacity of 7.3GW across solar, wind and hydroelectric power generation facilities in India, and is developing large-scale pumped storage power generation projects.

The strategic divestment from Greenko aligns with ORIX’s capital recycling strategy as they aim to reinvest funds into expanding sectors such as green molecules that contribute towards global decarbonisation efforts.

AMG was founded by Anil Chalamalasetty and Mahesh Kolli who are also behind the establishment of Greenko.

It focuses on developing green hydrogen and ammonia production projects alongside water electrolysis equipment manufacturing essential for green hydrogen production.

AMG plans to produce five million tonnes per annum (mtpa) of green ammonia through its various projects.

The initial project with a capacity of 1mtpa is under construction in Kakinada, Andhra Pradesh, India, with commissioning set for the second half of 2026.

Binding term sheets have been signed by AMG with companies such as Uniper and Yara Clean Ammonia to supply green ammonia to Europe.

Renewable energy remains central to ORIX’s strategic growth areas as it continues expanding globally through solar, wind and geothermal power.

ORIX acquired Elawan Energy, headquartered in Spain – a wholly-owned entity within the group portfolio currently managing 4.7GW worldwide capacity.

In December 2024, the Greenko Group contracted AFRY to deliver comprehensive design engineering services for a 1.8GW Shahpur pumped hydro energy storage project in Rajasthan, India.