Strategic Acquisition to Strengthen Green Energy Leadership
AM Green BV, through its wholly owned subsidiary AM Green Power BV, has signed definitive agreements to acquire a 17.5% equity stake in Greenko Energy Holdings from Japan’s ORIX Corporation for $1.4 billion. With this transaction, expected to close in July 2025, AM Green and its promoter group will hold approximately 25% ownership in Greenko, one of India’s largest renewable energy companies.
ORIX Retains Long-Term Exposure Through Convertible Note
As part of the transaction, ORIX will also invest about $731 million in a convertible note issued by AM Green (Luxembourg) S.à.r.l, the parent company of AM Green Power BV. This investment provides ORIX with continued, long-term exposure to the fast-growing sectors of green hydrogen, green ammonia, sustainable aviation fuel (SAF), and other next-generation green molecules, in line with its capital recycling strategy.
Deepening Integration with Greenko’s Renewable Platform
This acquisition marks a significant milestone for AM Green, enhancing its upstream integration by deepening its partnership with Greenko. Greenko currently operates over 10 GW of renewable and pumped storage assets and is developing what will become the world’s largest “Intelligent Energy Storage Cloud Platform,” targeting over 100 GWh of daily storage capacity by 2030. AM Green aims to leverage this robust renewable backbone to accelerate its own green molecule ambitions.
AM Green’s Vision for Next-Generation Clean Energy
Founded by Greenko’s original promoters, AM Green is focused on large-scale production of green hydrogen, green ammonia, SAF, and biofuels. The company is targeting delivery of 5 million tonnes per annum (mtpa) of green ammonia by 2030, with the first 1mtpa green ammonia project already under construction in Kakinada, Andhra Pradesh. With vertically integrated operations across green power, storage, and green molecules, AM Green is positioning itself as a next-generation global clean energy platform.
Industry Impact and Future Outlook
This deal is one of the largest in India’s green energy sector and underscores the rising global investor interest in India’s renewable and clean energy markets. The transaction not only strengthens AM Green’s capabilities but also allows ORIX to recycle capital into future-focused green industries while retaining a strategic foothold in India’s clean energy growth story.
Anil Chalamalasetty, Founder and CEO of AM Green, called the deal “a key milestone in building one of the world’s most integrated and scalable green energy platforms,” and thanked ORIX for its continued partnership and belief in AM Green’s vision
