ORIX Sells 17.5% Stake in Greenko to AM Green, Taking AM Green’s Holding to 25%

AM Green BV has entered into a definitive agreement to acquire a 17.5% equity stake in Greenko Energy Holdings from Japan-based ORIX Corporation. The transaction, which is expected to close by July 2025, will increase AM Green’s total stake in Greenko to approximately 25%, when combined with its existing holdings.

The deal is structured through AM Green’s subsidiary, AM Green Power BV, and also includes a strategic investment by ORIX into a convertible note issued by AM Green’s Luxembourg-based parent company. This provides ORIX with long-term exposure to green hydrogen, green ammonia, sustainable aviation fuel, and other low-carbon fuels—aligning with its capital recycling approach in clean energy investments.

Founded in 2023 by Greenko’s co-founders Anil Chalamalasetty and Mahesh Kolli, AM Green operates a fully integrated Power-to-X platform. It spans renewable power, energy storage, and production of green molecules. The acquisition further deepens AM Green’s vertical integration by leveraging Greenko’s renewable and pumped storage portfolio of over 10 GW across India.

AM Green’s flagship project in Kakinada, Andhra Pradesh, is under construction and aims to produce 1 million tonnes of green ammonia annually, scaling to 5 MTPA by 2030. The complex will include a 2 GW electrolyzer factory and sustainable aviation fuel units. Supply agreements are already in place with global players like Uniper SE and Yara Clean Ammonia.

This strategic move strengthens AM Green’s position in the global green hydrogen market while reinforcing ORIX’s long-term commitment to the renewable energy transition.