GREENKO ENERGIES
Acre ARC sells Nagarjuna Fertilizers and Chemicals debt to AM Green for ₹1,685 cr
Nagarjuna Fertilizers has successfully cleared its massive debt, positioning itself for a potential merger with AM Green to optimize brand and distribution synergies. The unresolved sale issues of its plant and business loom large, impacting the transfer of government subsidies.
AM Green, SJVN arm ink MoU for supply and sourcing of green energy
AM Green's partnership with SJVN Green Energy aims to supply 4.5 GW of renewable energy. The project supports India's green hydrogen production targets and contributes to global industrial decarbonization. Additionally, collaborations with Gentari Sdn Bhd and GIC further enhance AM Green's position in the renewable energy sector.
SJVN to supply 4500 MW green energy to AM Green's green ammonia facilities
Greenko Group's subsidiary, AM Green, and SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) for a long-term renewable energy supply agreement. Under the agreement, SGEL will provide 4,500 MW of carbon-free energy to power AM Green's forthcoming green ammonia facilities.
Petronas renewable energy arm leads race to climb green tower at Brookfield
Malaysian energy giant Petronas's renewable energy arm Gentari Sdn Bhd is leading the race for a part of India's renewable portfolio from Brookfield Asset Management.
India sets sights on global renewable ammonia market, takes strides towards sustainable energy leadership
India is positioning itself as a key player in the renewable ammonia market with several international trade agreements already inked and more on the horizon. According to S&P Global Commodity Insights, however, industry insiders emphasize the need for greater policy clarity and price stability to transform these agreements into binding deals.
Continuum Green Energy eyes funds from two private equity investors at $1-billion valuation
Continuum Green Energy (India) is preparing to raise funds from two global private equity investors, with a valuation estimated at $1 billion, in anticipation of an upcoming initial public offering (IPO). Founded by Arvind Bansal and Vikash Saraf, the renewable energy company has signed a term sheet with Global Environment Fund and UK-based Just Climate to secure $150 million in funding. This investment will establish a valuation benchmark ahead of the IPO.
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Greenko Zero C to supply 500,000 tonnes of green ammonia to Norway's Yara Clean Ammonia
Deliveries to start from Kakinada from Q4 of CY26, Industry sources say contract size expected to be $1.5-$1.8 bn over 10 years. 5GW of renewable power and pump storage in Andhra Pradesh to back production
Greenko Energies gets CCI nod to acquire additional stake in Sikkim Urja
CCI approved Greenko Energies' additional stake acquisition in Sikkim Urja Ltd, a special purpose vehicle for a 1,200 MW hydropower project in North Sikkim. The acquisition was part of promoting fair competition in the marketplace.
RIL to lead massive Rs 1 lakh crore investment in green hydrogen, ammonia units at Kandla
Reliance Industries Ltd (RIL), Larsen and Toubro (L&T), Greenko Group, and Welspun New Energy are planning to establish green hydrogen and green ammonia units at Gujarat’s Deendayal Port Authority (DPA) in Kandla, according to informed sources. The project, estimated to attract investments up to Rs 1 lakh crore, marks one of the largest investments in India's energy infrastructure.
Masdar, Gentari, others eye majority stake in Ayana Renewable Power
The majority stake sale will value Ayana's equity at $1 billion, with an enterprise value - inclusive of debt in the capital structure - around $2.5-3 billion, sources told ET. Non-binding bids will likely be in by mid-April, said these officials.
China's Envision Energy to manufacture wind turbines for Greenko's AM Green
China's Envision Energy International and AM Green, a hydrogen and green ammonia venture by the founders of Greenko Group, have entered an agreement to manufacture wind turbines for AM Green's clean energy projects in India. The collaboration, signed during the World Economic Forum’s Annual Summit in Davos, aims to leverage the strengths of both companies to create a sustainable business venture.
RIL Unit, Greenko JV among 8 chosen for electrolyser incentive scheme
Several companies, including Ohmium Operations, Reliance Electrolyser Manufacturing, Greenko, Jindal India, Advait Infratech, Larsen & Toubro (L&T) unit, and Homihydrogen, have emerged as winners in the first phase of the Indian government's ₹4,440-crore electrolyser incentive scheme. The scheme saw interest from 21 companies, and the results of the financial bids are subject to revision
Reliance, ACME, seven others selected for government sops to set up green hydrogen production facilities
As many as 12 companies' bids were qualified for incentives to set up production facilities of 5,49,500 tonnes of green hydrogen, against the offered capacity of 4,50,000 tonnes.
Indian energy producer AM Green seeks $1 billion funding, sources say
The firm is working with an adviser on the fundraising to bolster its ability to produce green hydrogen and other chemical compounds, the people said, asking not to be identified as the information is private. AM Green aims to build a million tonnes a year of green methanol capacity, one of the people said.
Green 'n' bear it, it's ammonia, GH2 start
Ammonia is used for manufacturing nitrogenous fertilisers, and the green ammonia production process is 100% renewable and carbon-free. Once concluded, the deal will be the largest FDI to date in this sector as India seeks to decarbonise its economy.
Malaysia's Petronas, Singapore's GIC and Greenko form a $2 billion green ammonia venture
Petronas arm Gentari and AM Green established by the creators of Greenko have officially announced the signing of binding agreements with a GIC affiliate. Their collective goal is to produce 5 million tons per annum (MTPA) of green ammonia by the year 2030, which is equivalent to approximately 1 MTPA of green hydrogen.
Petronas, Singapore’s GIC, Greenko founders set to invest $2 bn in new green platform AM Green
To set up 5 MTPA green ammonia facilities; aims to be among lowest-cost producers of green H2, molecules etc. Once concluded this will be the largest FDI in green molecules space in the country till date.
Singapore's GIC ties up Vedanta Group company Sterlite Transmission for $1 bn joint venture
GIC will be deploying $500 million in the infrastructure business for a 49% stake. The investment will take place in tranches, with an initial $100 million and $400 million to come in over the next two to three years on a need-to-draw down basis. This will be linked to Sterlite Power winning transmission project tenders and planned capex.
REC sanctions Rs 6,075 crore loan to Greenko, Rs 3,081 crore debt to Serentica Renewables
The REC is on a trajectory to achieve a green finance loan book of Rs 3 lakh Crore by the fiscal year 2030, a statement said.
Andhra Pradesh CM lays foundation for three renewable energy projects worth over Rs 25,000 crore
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy has inaugurated three renewable energy projects worth Rs 25,850 crore in Nandyala district. The projects, which include solar, wind, and pumped energy storage, are expected to generate 5,314 MW of power and create employment for around 5,300 people.
Business route taken by India's renewable IPPs will reflect their credit quality
Of the eight rated Indian IPPs, the three leading producers by installed capacity -- Greenko Energy Holdings (GEH), Renew Power Private Limited (RPPL) and Adani Green Energy Limited (AGEL) -- each have installed generation capacity of over five gigawatts, which had grown via greenfield development and acquisitions, the report notes.
NTPC Renewable Energy to supply 1,300 MW clean power to Greenko
NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Green Energy, has signed a term sheet with Greenko ZeroC (A Greenko Group company) on March 28, 2023, to supply 1,300 MW round-the-clock RE Power for powering Greenko's upcoming green ammonia plant at Kakinada, a statement said.
CPPIB may offer to buy out ReNew minority shareholders
Earlier this month, CPPIB bought a 14% stake from Goldman Sachs for a sum of $268 million, increasing its stake in the company to 52%.
Greenko to raise $700 million via rights issue, values company at $7 billion
Hyderabad-based Greenko is 52% owned by GIC of Singapore. The founder duo — Anil Chalamalasetti and Mahesh Kolli — together own 12%, Abu Dhabi Investment Authority owns 14% while the rest is owned by Japanese major Orix Corporation.
Greenko Energy to prepay bonds worth $500 million
This development comes just days after it fully redeemed the entire outstanding $435 million bonds, due for maturity in March, having refinanced them through a bridge loan from global banks JP Morgan, Barclays, DBS Bank, among others, amid hardening rates, ET reported on February 22. It paid investors in full their principal amount together with accrued and unpaid interest.
Greenko uses bridge loan to refinance its overseas bonds
It paid investors in full their principal amount together with accrued and unpaid interest. The company refinanced the bond with a similar size bridge loan from half a dozen banks including Barclays and DBS Bank, three sources said.
Greenko to supply 250K tonnes green ammonia to Germany’s Uniper, 1st Indian co to start exports from 2025
The two firms on Tuesday inked a Memorandum of Understanding (MoU) and Heads of Terms agreement for exclusive negotiations to supply 250,000 tonnes per annum of green ammonia to Uniper. Although not specified, sources in the know said the offtake agreement is for 8-10 years, starting 2025.
JSW, Greenko, Adani, Tata tapped for PTC India stake
The promoters - NTPC, NHPC, Power Finance Corp and Power Grid Corp of India - hold a combined stake of around 16% in PTC India. Damodar Valley Corp, which owns a 3.3% ownership, has also decided to divest its shareholding.
Greenko Group emerges lowest bidder for NTPC's 3000 MWh energy storage tender
Hyderabad-based Greenko Group has emerged as the lowest bidder in the world’s first and largest technology agnostic storage tender from NTPC Renewable Energy Limited (NTPC REL), the renewable arm of NTPC Limited. Greenko is backed by GIC Holdings Pte Ltd, Abu Dhabi Investment Authority and Japan’s ORIX Corp.
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