CCI Approves Shareholding Acquisition in Greenko Energy Holdings by AMG Power and Convertible Notes Subscription by ORIX Corporation

The acquisition is expected to strengthen the investment landscape in India's renewable energy sector, fostering greater capital infusion and development of clean energy solutions.

The Competition Commission of India (CCI) has granted approval for the acquisition of certain shareholding in Greenko Energy Holdings (GEH) by AMG Green Power B.V. (AMG Power) from ORIX Corporation (ORIX) and the subscription of specific convertible notes of AM Green (Luxembourg) S.À.R.L (AMG Lux) by ORIX Corporation.

Details of the Proposed Transaction

The approved combination involves two key transactions:

1. AMG Power will acquire a certain percentage of shareholding in GEH from ORIX Corporation.
2. AMG Lux will issue specific convertible notes to ORIX Corporation as part of the transaction structure.

Entities Involved

AMG Green Power B.V. (AMG Power): AMG Power is a newly established entity and is not engaged in any commercial activities in India or globally.

AM Green (Luxembourg) S.À.R.L (AMG Lux): AMG Lux functions as a holding company and does not conduct any direct business operations in India or internationally.

ORIX Corporation (ORIX): ORIX is a multinational entity offering diversified services including corporate financial services, automobile leasing, infrastructure investment, asset management, and renewable energy solutions. In India, ORIX operates in automobile leasing, commercial vehicle financing, financial services, infrastructure investment, and power generation sectors.

Greenko Energy Holdings (GEH): GEH is a leading player in India's renewable energy sector, focused on the development and operation of clean energy assets. Its energy portfolio spans wind, solar, hydro, and energy storage projects across multiple states in India.

Implications of the Acquisition

The acquisition is expected to strengthen the investment landscape in India's renewable energy sector, fostering greater capital infusion and development of clean energy solutions. With the strategic realignment of shareholding in GEH and the subscription of convertible notes, the transaction is likely to facilitate long-term growth in renewable infrastructure and energy sustainability in India.

This approval by the CCI signifies an essential regulatory step, ensuring compliance with competition norms while promoting strategic investments in India's renewable energy market.