AM Green Group to hold 25% stake in Greenko Energy Holdings
AM Green Group (AMG) has acquired Orix Corporation’s 17.5% equity stake in Indian hydrogen and renewables firm Greenko Energy Holdings.
Adding to AMG’s existing share, the energy major will hold a 25% stake in Greenko post-closing of the transaction this month. Through Greenko, they will acquire a platform with 10GW of operational renewable energy capacity and 100GWh of daily storage capacity, on track to be online by 2030.
Greenko boasts a 1.7GW pumped storage project in Andhra Pradesh, which has already been commissioned. Its next two pumped storage projects in Madhya Pradesh and Karnataka (2.5GW) are expected to be commissioned in 2026 and 2027, respectively.
As part of the transaction, Orix has also agreed to invest in a convertible note issued by Luxembourg-based AM Green, the parent company that holds all shares of AMG, in a bid to increase long-term green hydrogen, ammonia and SAF exposure.
Anil Chalamalasetty, Founder and CEO of AM Green, called the deal a milestone in “building one of the world’s fully integrated and scalable green energy platforms.”
AMG was founded in 2023 by the Greenko co-founders, Chalamalasetty and Mahesh Kolli. The company plans to produce five million tonnes per year (mtpa) of green ammonia.
Furthermore, its first 1 MTPA project is currently under construction in Kakinada, Andhra Pradesh. It will house 2 mtpa of green ammonia production, 2GW electrolyser gigafactory and facilities for SAF and green chemical production.
H2 View subscription
If you’re looking to upgrade your H2 View experience, check out our subscription packages and unlock nearly FIVE YEARS of content.
Even with an essential H2 View subscription, you will gain unlimited access to h2-view.com’s archive of content containing over 11,000 stories, features and interviews – as well as a monthly digital and/or print magazine!
Still need more? Our premium package provides access to all of H2 View’s exclusive webinars on demand!
