Connect with us

Hi, what are you looking for?

CleanTechnica
Hyderabad-based Greenko Group and Hero Future Energies Pvt. Ltd are in separate negotiations with Singapore’s based AT Capital Group to buy Orange Renewable’s portfolio of 758 megawatts of renewable energy projects.

Green Economy

List Of Potential Buyers Of Orange Renewable Grows As Consolidation Continues In India

Hyderabad-based Greenko Group and Hero Future Energies Pvt. Ltd are in separate negotiations with Singapore’s based AT Capital Group to buy Orange Renewable’s portfolio of 758 megawatts of renewable energy projects.

Hyderabad-based Greenko Group and Hero Future Energies Pvt. Ltd are in separate negotiations with Singapore’s based AT Capital Group to buy Orange Renewable’s portfolio of 758 megawatts of renewable energy projects.

Orange Renewable is a fully owned subsidiary of AT Holdings Pte. Ltd headquartered in New Delhi. The company currently has an operating renewable energy capacity of 758 megawatts. This is comprised of a wind energy capacity of 567 megawatts and solar projects of 191 megawatts. The projects are spread across various states of the country.

There appears to be considerable interest among buyers for acquiring the Orange Renewables portfolio, however, final deal is yet to be made. The company was earlier in discussion with ReNew Power as well, however, discussions did not reach fruition, after which both Greenko Group and Hero Future Energies showed interest in Orange’s portfolio.

Greenko Energy Holdings, backed by Singapore’s GIC and Abu Dhabi Investment Authority, is planning a $750 million equity investment for buying power transmission and distribution assets for diversification. The firm is in talks to acquire several electricity transmission, distribution, and hydropower projects. Recently, the company was in talks with Gati Infrastructure Pvt. Ltd (GIPL) to acquire the 110 megawatt Chuzachen hydro-electric project in east Sikkim.

Greenko acquired assets of SunEdison India after the latter’s US-based parent announced bankruptcy. The SunEdison portfolio included some of the most competitively priced and largest solar power projects in the country.

Hero Future Energies, part of Hero Group, has aggressive expansion plans to set up 2700 megawatts of renewable energy capacity by 2020. In January of this year, the company received a $125 million equity investment from the International Finance Corporation (IFC), the private sector investment arm of the World Bank Group.

Several Indian companies, as well as foreign companies with Indian assets in the renewable energy sector, are now looking to sell off their assets. This could be attributed to the sharp increase in competition, and decline in tariff bids, in a very short period of time. Project developers with the backing of international financiers or those part of large industrial conglomerates are the ones showing signs of survival and expansion.

Photo Credit: Screengrab from Orange Renewable website

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Biofuels

At the coal face of a conference that involved governmental figures, academics, logistics customers and OEMs, the detailed technical conversations are almost all about...

Cars

After a very slow start, the Indian battery-electric car market is starting to get exciting. BYD is expanding its presence in the country, shifting...

Cars

India’s electric 2-wheeler market has been booming over the last few years. However, the electric car sector has been pretty slow. India’s electric car...

Clean Power

Indian hydropower company SJVN has announced start of construction of a large solar power park in the northern state of Rajasthan.  On January 3rd,...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.