Greenko Acquires Orange Renewables

The Greenko Group has acquired Orange Renewables for an approximate enterprise value of $1.02 billion. This includes a $680 million debt which will be taken over by Greenko from Orange, and an equity infusion of $340 million.  Reportedly, Greenko will take over approximately 907 MW of operational solar and wind projects from Orange, and over 500 MW of assets development the acquisition. Greenko has over 1,039 MW of commissioned solar projects and a project pipeline of nearly 295 MW. Orange Renewables is a 100 per cent subsidiary of AT Holdings, Singapore, and works towards developing, constructing and operating wind and solar energy projects across India. The company has set up projects in Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Rajasthan.