AMG Green Power's Strategic Stake Acquisition in Greenko

The Competition Commission of India has approved AMG Green Power BV's proposal to acquire a stake in Greenko Energy Holdings from Orix Corporation. Greenko operates a diverse renewable energy portfolio, while AMG is a newly formed company without prior business operations. This acquisition aims to strengthen Greenko's renewable energy assets.

The Competition Commission of India (CCI) has given the green light to AMG Green Power BV's plan to acquire shares in Greenko Energy Holdings from Orix Corporation. This move marks a significant step in AMG's expansion into the renewable energy sector.

Greenko Energy Holdings boasts a diverse portfolio, including wind, solar, hydro, and energy storage technologies across various states. The acquisition will involve AMG Green Power taking a certain shareholding in Greenko and issuing convertible notes to Orix.

AMG Green Power is a newly established entity, while Orix is engaged in multiple sectors, including financial services and power generation in India. The CCI's role in such deals is to prevent unfair business practices and encourage fair competition in the market.

(With inputs from agencies.)