Greenko, backed by Singapore’s GIC and Abu Dhabi Investment Authority, is close to striking a deal to purchase wind and solar energy producer Orange Renewables for an enterprise value of about $1 billion, said people with knowledge of the matter.
Having entered into exclusive negotiations with Delhi-based Orange, Greenko is likely to make a formal announcement by this month-end, said the people cited above. The acquisition, if it goes ahead, will help the Hyderabadheadquartered company increase its operating portfolio to about 4 gigawatts from 3.2 gw, making it the largest clean energy provider in the country, overtaking ReNew Power, which has a commissioned and planned capacity of 3.2 gw of wind and solar projects.
Orange is owned by Singapore based AT Capital, a fund that has India-born billionaire Arvind Tiku as its primary sponsor. Based in Russia, Tiku made his fortune in the Central Asian oil and gas industry. Read More…
Latest posts by admin (see all)
- Adityanath Reviews Railway Projects Concerning Kumbh 2019 - September 5, 2018
- BPCL LPG Storage Facility In Hyderabad To Become 3,100 MT By January Next - August 28, 2018
- Southern Railway Replaces Sleeper Coaches With AC - August 13, 2018