Orix buys 21.8% of Indian renewables operator Greenko

ORIX Corporation has completed its acquisition of shares in Greenko Energy Holdings.

Simultaneous to acquiring issued shares in Greenko, ORIX integrated its entire wind power generation business in India into Greenko in exchange for new additional shares of Greenko. Accordingly, ORIX has acquired approximately 21.8% of Greenko for a total value of approximately US$961 million.

Greenko is one of the two major Indian renewable energy operators. It manages renewable power generation facilities with a total capacity of 6.9 GW in operation—including solar, wind, and hydro—and has an additional capacity of more than 8 GW either under construction or in development. Greenko has long-term power purchase agreements (PPA) averaging over 20 years with India’s government-run agencies, state-owned power companies, and other entities.