Greenko completes acquisition of Orange Renewable and agrees to acquire Skeiron Green Renewables

Greenko Energy Holdings (Greenko) has announced that it has completed the Orange Renewables acquisition and entered into a definitive purchase agreement to acquire Skeiron Green Renewables.

Headquartered in New Delhi, Orange Renewable is a developer and operator of renewable energy projects. The company owns solar and wind assets located across India with a total combined capacity of 907 MW and pipeline assets of over 500 MW.

Skeiron is an independent power producer and a leading renewable power developer in India. It was launched in 2015 and has since built a portfolio of over 400 MW of operating wind capacity.

The two transactions combined will add about 1,300 MW operating and near completion wind and solar assets and increase Greenko’s overall operational capacity to about 4.5 GW of well diversified and de-risked portfolio of wind, solar and hydropower assets. Furthermore, the deal will add approximately US$200 Million to Greenko’s EBITDA in the first full year after close, with further accretion and growth anticipated thereafter.