June 30, 2025 [PV Magazine]- AM Green BV (AMG), through its wholly owned subsidiary AM Green Power (AMG Power), has signed definitive agreements to acquire a 17.5% equity stake in Greenko Energy Holdings (Greenko) from ORIX Corp. Post closing of this transaction in July 2025, AMG, along with its promoter group, will own 25% stake in Greenko.

As part of this transaction, ORIX has also entered into an agreement to invest in a convertible note issued by AM Green (Luxembourg) S.a.r.l (AMG Lux), the parent company of AMG. This investment will provide ORIX long-term exposure to green hydrogen, green ammonia, sustainable aviation fuel (SAF), and other next-generation green molecules, aligning with its capital recycling strategy.

AM Green is a next-generation clean energy platform founded by the promoters of Greenko Group. It focuses on large-scale production of green hydrogen, green ammonia, sustainable aviation fuels, and biofuels. With vertically integrated operations across green power, storage, and green molecules, it aims to deliver 5 mtpa of green ammonia by 2030—equivalent to 1 mtpa of green hydrogen. The first 1 mtpa green ammonia project is already under construction in Kakinada, Andhra Pradesh.

The company has signed term sheets for green ammonia supply with global players such as Uniper SE and Yara Clean Ammonia. AMG has also secured long-term power purchase agreements (PPAs) for round-the-clock renewable energy for its first two green ammonia plants.

ORIX stake acquisition enhances AMG’s upstream integration with Greenko, a leading Indian renewables company operating over 10 GW of renewable and pumped storage assets and building the world’s largest “Intelligent Energy Storage Cloud Platform” with over 100 GWh of daily storage capacity by 2030.

“This transaction is a key milestone in building one of the world’s fully integrated and scalable green energy platforms,” said Anil Chalamalasetty, founder and CEO of AM Green. “We thank ORIX for their continued partnership and belief in our vision.”