Greenko Founders in India to Raise $800 Mn for Orix Stake Purchase

22 Jan 2025 CW Team

The founders of Greenko Energy Holdings, a leading clean energy producer in India, are raising debt to acquire a stake in the company.

AM Green Power BV, which has connections to the founders of Greenko, is planning to secure an $800 million loan to purchase the stake from the Japanese financial group Orix Corp., as reported by sources familiar with the matter.

AM Green has engaged Barclays Plc and Deutsche Bank AG to arrange the loan, which will be syndicated to the broader market, according to the sources, who requested anonymity due to the private nature of the information. The loan could have a three-year tenor, they added.

This sale could bring uncertainties to Greenko’s growth prospects. Greenko usually depends on equity injections to fund around a quarter of its investments, and AM Green may have less financial capacity to support the company compared to Orix, according to Bloomberg Intelligence analyst Sharon Chen.

AM Green and Greenko Energy did not immediately respond to Bloomberg's emails seeking comment.

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