Latest news with #Greenko
Time of India
27-05-2025
- Business
- Time of India
Andhra Pradesh plans green energy corridor worth ₹28,400 cr
New Delhi: Eyeing major expansion in the renewable energy sector, Andhra Pradesh chief minister N Chandrababu Naidu has proposed a ₹28,436-crore green energy corridor to connect renewable energy power project to the central grid. As Andhra Pradesh gears up for its ambitious target of producing 72 GW of green energy by 2029, Naidu has come up with a plan of a green energy corridor, which will include building transmission network and central substations. According to sources, the green energy corridor will facilitate the evacuation of 11,000 MW of power from renewable energy projects and 7,000 MW from pumped storage projects and would contribute to India's renewable energy capacity addition targets. Andhra Pradesh is facing twin challenges-the first is renewable energy generation potential and pumped storage schemes are concentrated in the Rayalaseema region and need massive transmission networks to evacuate the power while the load growth is primarily in the coastal areas where green hydrogen hubs ( NTPC 's Green Hydrogen Hub project and Greenko project), data centres and major industries are coming up. The second challenge is that major developers who had been allotted renewable energy sites in the previous regimes are yet to start work and have been squatting on land near substations. The state is unable to add fresh capacity as these projects have not yet taken off the ground. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Now, the state government has proposed an extra high tension transmission network to integrate these energy resources and transmit power to the coastal load centres.
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Business Standard
26-05-2025
- Business
- Business Standard
AM Green, Rotterdam Port partner for $1 bn India-Europe green fuel corridor
AM Green, backed by the founders of Greenko, has signed a pact with the Port of Rotterdam Authority to build a green energy supply chain between India and Northwestern Europe. The partnership would enable annual trade of 1 million tonnes of green fuels worth up to $1 billion, linking India's emerging green hydrogen clusters with Europe's largest energy port of Rotterdam. In a statement, the firm said it has signed a memorandum of understanding for "building a green energy supply chain between India and Northwestern Europe via Rotterdam, Europe's first energy port and a key hydrogen carrier's entry point". This includes the supply of bunkering fuels and Sustainable Aviation Fuels (SAFs) and analysing requirements for the development of terminal infrastructure in Rotterdam and along the supply chain to Northwestern Europe. The partnership will jointly support the development of strategic port infrastructure for safe distribution of hydrogen-based fuels and products, and link India's net zero industrial clusters to Europe, enabling exports of up to 1 million tonnes annually. "AM Green is pushing its ambitious goal to develop 5,000,000 tonnes of Green Ammonia production capacity by 2030, equivalent to about 1,000,000 tonnes of Green Hydrogen to meet the rising global demand for green fuels, with initial production starting in Kakinada," it said. On the other hand, the Port of Rotterdam plays a leading role as a critical logistics and hydrogen hub for the European continent, with some 13 per cent of the total energy demand in Europe entering via Rotterdam. Together, they aim to fulfil India's National Green Hydrogen Mission and Europe's ambitious decarbonisation goals. Boudewijn Siemons, CEO of the Port of Rotterdam Authority, said with India's vast potential for green hydrogen production, combined with Rotterdam's strategic location and advanced infrastructure, the collaboration will lead to a robust and sustainable green energy supply chain between the two regions. Anil Chalamalasetty, founder of AM Green and Greenko Group, said, "This partnership is part of our ambitious global growth strategy in green fuels, including 5 million tonnes per annum of green ammonia and 1 million tonnes per annum of SAF. This collaboration marks a significant milestone in establishing a global carbon-free energy ecosystem. It will enable the seamless movement of green molecules and fuels from India to Europe, reinforcing AM Green's position as a global clean energy transition platform and accelerating industrial decarbonisation globally." AM Green is set to begin production at its green ammonia facility in Kakinada, Andhra Pradesh, in the second half of 2026. The project - estimated to cost around Rs 12,500 crore - includes a green hydrogen unit and an ammonia conversion plant, both housed within a repurposed urea facility acquired earlier this year. Phase-1 production of 1 million tonnes of green ammonia at the Kakinada plant is primarily targeting export markets in Europe. AM Green has already signed offtake agreements with major buyers, including Uniper, Yara, and Keppel, supporting a range of green hydrogen applications. In January, the company joined forces with global logistics giant DP World to develop advanced storage and export infrastructure in India and overseas, strengthening its drive to expand into international green fuel markets.
Indian Express
25-05-2025
- Business
- Indian Express
Greenko, Adani, JSW to build bulk of India's 51 GW pumped storage pipeline
Three players—Greenko, Adani Green, and JSW Energy—are set to develop nearly two-thirds of India's planned 51 gigawatt (GW) pumped storage hydropower capacity by 2032, according to new data from the Central Electricity Authority (CEA). Of the total capacity expected to come online, over half—57 per cent—will be located in Andhra Pradesh and Maharashtra. Together with battery energy storage systems (BESS), pumped storage is set to play a key role in balancing India's power grid amid increasing integration of variable renewable capacities like solar and wind. Pumped storage projects typically use two reservoirs at different elevations. During periods of low demand, solar power is used to pump water from the lower to the upper reservoir. This water is released back down to generate electricity during periods of high demand in non-solar hours. At present, India has less than 5 GW of installed pumped storage capacity, and plans to increase it over tenfold by 2032. The CEA expects 39 projects to get commissioned by then, totalling 51.24 GW. Around 10 GW is currently under construction, including 3 GW slated for commissioning in the current financial year. These projects were either self-identified by private developers, awarded through competitive bidding, or allotted to public sector enterprises. Of the total pipeline, Hyderabad-based Greenko Group is set to develop 13.2 GW (25 per cent), Adani Green 11.4 GW (22 per cent), and JSW Energy 7.7 GW (15 per cent), according to data with the CEA. The above companies did not respond to requests for comment. Greenko, which currently has a small portfolio of run-of-river hydroelectric projects, will commission its first 1,680 MW pumped storage project in Pinnapuram, Andhra Pradesh in September this year. In an earnings call on April 29, Adani Green executives said the company is 'all set for gigawatt capacities' in pumped storage. Stressing on the economic case for storage projects, Raj Kumar Jain, head of business development, said, 'The IRRs (internal rate of return) are better than what you get in a normal plain vanilla solar or wind project by close to couple of percentage points.' In an earlier call, executives said pumped storage is the 'next frontier for a higher return portfolio'. Adani Green's first 500 megawatt (MW) project, located near the Chitravathi dam in Andhra Pradesh, is expected to be commissioned in 2027. In addition to Greenko's maiden project, two other pumped storage projects are scheduled for commissioning this year—THDC India's 1,000 MW project in Tehri, Uttarakhand, in October; and TANGEDCO's 375 MW project in Kundah, Tamil Nadu, by December. Pumped storage projects typically have longer gestation periods—around five years—due to the need for environmental clearances and more complex civil works. However, unlike BESS, pumped storage remains the dominant form of energy storage globally, accounting for over 90 per cent of installed capacity. While BESS offers faster and more flexible deployment, it faces supply-side risks, with much of the global battery manufacturing concentrated in China. Recognising the trade-offs and the need for energy storage at large, Indian policymakers are pursuing a balanced strategy that supports both technologies. India has pumped storage potential of 176 GW, with around 40 per cent—70 GW—in Maharashtra and Andhra Pradesh alone. By 2032, 16 GW will be developed in Andhra Pradesh and 13 GW in Maharashtra. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
Bloomberg
16-05-2025
- Business
- Bloomberg
India's Greenko Founders Eye New Deal to Buy Stake From Orix
The founders of Indian clean energy producer Greenko Energy Holdings are still working on purchasing Orix Corp. 's stake in the company, despite the Japanese financial group's announcement cancelling the sale, said people familiar with the matter. Anil Chalamalasetty and Mahesh Kolli, co-founders of Greenko, are tweaking the deal structure to pave the way for the acquisition to proceed, said the people who declined to be named discussing confidential matters. Singapore's sovereign wealth fund GIC Pte. is the largest owner of Greenko with a 58% stake, according to Bloomberg Intelligence.
Economic Times
15-05-2025
- Business
- Economic Times
Greenko founders trim Orix stake buy plan, to raise $610 million
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Greenko Group founders, Anil Chalamalasetty and Mahesh Koll, are scaling down their planned acquisition of a stake held by Japan's Orix Corporation , opting to raise $610 million to buy 17.3% of the renewable energy firm's holding company, people familiar with the matter they had aimed to raise $800 million for the full 20% stake held by the Tokyo deal has been restructured to reduce leverage in the tightening credit markets scenario and is expected to be finalised later this week, the people said, requesting financing could be raised at a cost of around 14% and is being syndicated by Deutsche Bank and Barclays. Investors in the two-year facility could be large funds, including Clifford Capital, BlackRock and other private credit funds."Greenko promoters have sent a revised deal to Orix and it should close in the next two weeks," said a source. "The promoters decided to scale down the fundraise as the cost of borrowing has gone up from 12% to 14% between March and May due to global uncertainties."An Orix spokesperson said as stated on April 25, it has decided to cancel the planned sale of its stake in Greenko to AM Green. "At this time, we are unable to provide any further information beyond what has already been disclosed," said an Orix of Greenko did not respond while Barclays and Deutsche Bank did not respond to requests for revised plan follows the collapse of an earlier share transfer agreement announced on April 25, between Orix and AM Green Power BV, a Greenko founder-owned entity, after the deal failed to meet financing-related conditions precedent. Although the competition regulator cleared the transaction on March 11, funding agreements with lenders could not be finalised by the extended April 15 deadline, forcing Orix to terminate the a statement dated April 25, Orix confirmed it had scrapped the deal originally announced in January, citing failure to meet key January, Orix had announced plans to reinvest through a convertible note issued by AM Green Luxembourg, the parent of AM Green Power. That investment, too, is on founders had initially engaged with private credit funds, including Temasekbacked Clifford Capital and BlackRock to raise $800 million for the full 20% stake. While that plan did not materialise, several of the same investors are expected to join the latest round. Japan's Orix had invested in Greenko in 2021 but now wants to sell its stake and reinvest in a new green energy venture called AM Green (AMG), created by Greenko's focuses on future energy like green hydrogen and ammonia, with big plans for clean fuel exports. This deal helps Orix shift focus to next-gen energy while Greenko's founders buy back the stake with help from investors. This move fits Orix's global plan to grow in clean energy and support the shift to decarbonisation
