Japan’ ORIX Corp. set to invest $980 million in Greenko Energy Holdings for 17% stake

NEW DELHI : In the single largest foreign investment in India’s clean energy space, ORIX Corp. is set to invest $980 million in Greenko Energy Holdings; the Japan’ financial services firm said in a statement.

The deal will also add 873 MW of Orix’ operating wind assets to Hyderabad-based Greenko’s portfolio, and will contribute $100 million to Greenko’s EBITDA in the first year. The deal will also peg GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority (ADIA) backed Greenko’s equity and enterprise value at $5.75 billion and $10.2 billion respectively.

EBITDA is earnings before interest, tax, depreciation and amortization. Greenko posted a revenue of $661 million for the year ended 31 March, 2020.