Greenko Founders Secure $650 Million Loan to Reclaim Stake

02 Jul 2025 CW Team

Greenko Energy Holdings co founders Anil Chalamalasetty and Mahesh Kolli have clinched a $650 million private credit facility that will enable them to repurchase 17.5 per cent of the clean energy producer from Japan’s Orix Corp, leaving Orix with a residual 2.5 per cent.

The two year loan comes from a consortium of lenders including Keppel Credit, SeaTown Holdings International, BlackRock, Varde Partners, Broad Peak Investment Advisers, Nomura and Sumitomo Mitsui Banking Corp. The transaction is one of India’s largest private credit financings this year, reflecting brisk demand for alternative funding as the government ramps up infrastructure spending.

The founders are executing the purchase through AM Green Power BV, a special purpose vehicle backed by parent company AM Green (Luxembourg) Sàrl. In a parallel move, Orix will invest about $731 million in a convertible note issued by the Luxembourg entity, providing fresh capital for future growth.

The deal revives a plan first announced earlier in the year to acquire Orix’s entire 20 per cent holding. Talks stalled in April over funding terms but were resurrected after the new credit line was secured. Orix shares rose 2.6 per cent on Monday, their strongest single day gain since early April.

The financing follows last month’s $3.4 billion private credit package for Shapoorji Pallonji Group, underscoring the growing appeal of large scale private debt in India’s capital hungry renewable and infrastructure sectors.

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