Japanese firm Orix set to invest $980 million in India’s Greenko Energy

Orix, a Japanese financial conglomerate, plans to invest around $980 million in Indian renewable energy company Greenko Energy Holdings. Orix will receive a stake of more than 20 per cent in Greenko, and the deal is expected to close within this year. This is one of the largest investments made by the Japanese company overseas, as it steps up its investments in clean energy. As per a statement made by the company, Orix will integrate its existing wind energy business, which includes projects with a cumulative capacity of 873 MW, with Greenko as part of the transaction. It will be buying most of its stake from the promoters’ equity, besides a fresh issue of shares. This deal is expected to make Greenko the second most valuable renewable energy firm in India, with a valuation of over $6 billion, after the publicly listed Adani Green Energy.

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