Japan-based Orix Corp. has agreed to invest at least $980 million to acquire a minority stake in Greenko Energy Holdings. The investment will be made through a combination of primary and secondary transactions, valuing Greenko equity at about $5.75 billion.
Orix will acquire at least 20 percent of Greenko’s issued shares at closing. The investment further solidifies the company’s shareholder base, which consists of long-term investors such as GIC and a wholly owned subsidiary of Abu Dhabi Investment Authority.
In addition, Greenko will acquire Orix’s 873 megawatts of operating wind assets in India, increasing Greenko’s overall operational capacity to 6.5 gigawatts.
Greenko has additional underconstruction capacity of more than 8 gigawatts, largely from its Integrated Renewable Energy Projects (IREP) which began construction earlier this year. IREP will take Greenko’s total operating capacity to 14.5 gigawatts once completed, bolstering its leadership p
