Greenko Completes Orange Renewable Acquisition; Agrees to Buy Skeiron Assets

NTPC REL & Greenko Sign One of the World's Largest RTC Renewable Supply Agreement

Moreover, it has also inked a definitive purchase pact to buy Skeiron Green Renewables.

India’s one of the leading renewable energy companies, Greenko Energy Holdings (Greenko) has completed the assets acquisition of Orange Renewables.

Moreover, it has also inked a definitive purchase pact to buy Skeiron Green Renewables.

The combined deal of Orange and Skeiron will add about 1,300 MW operating and near completion wind and solar assets and increase Greenko’s overall operational capacity to about 4.5 GW of well diversified and de-risked portfolio of wind, solar and hydro, the company said in a statement.

The company has an additional under-construction capacity of over 8 GW, largely Integrated Renewable Energy Projects, which will take its total operating capacity to about 12 GW, it added.

Further, the deal will add approximately USD 200 million to the company’s EBITDA in the first full year after close, with further accretion and growth anticipated thereafter.

Commenting on the development, Greenko, Managing Director and Chief Executive Officer, Anil Chalamalasetty said, “The proposed acquisition of Skeiron and completion of Orange Renewable assets are expected to drive capacity, revenue, EBITDA and overall earnings growth potential for Greenko and its stakeholders. Indian energy markets are transitioning from deficit markets to demand driven contracts requiring reliable, flexible and cost competitive energy. Greenko is focused on building integrated renewable energy assets with storage, which can compete with conventional energy assets like thermal in quality, quantity and cost.”