Hero Future Energies, Greenko In Race To Acquire Orange Renewable

Hero Future Energies, Greenko In Race To Acquire Orange Renewable

Greenko Group and Hero Future Energies Pvt. Ltd are in separate talks with Singapore-based AT Capital Group to acquire Orange Renewable’s portfolio of 758 megawatt (MW) capacity, several people aware of the development said.

New Delhi-based Orange Renewable, a unit of AT Holdings Pte. Ltd, owns one of India’s largest renewable energy platforms with an operational capacity of 758MW, made up of 567MW of wind projects and 191MW from solar plants.

Interest in the platform, founded by Arvind Tiku, an Indian-born Singapore resident, is explained in part by the fact that few Indian clean energy firms offer scale. In addition, while consolidation attempts are being made in India’s green energy space, deals are few and far between because of a mismatch between the expectations of buyers and sellers. Read More…

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