AM Green BV (“AMG”), through its subsidiary AM Green Power BV (“AMG Power”), has entered into definitive agreements to acquire a 17.5% equity interest in Greenko Energy Holdings from ORIX Corporation. Following completion, AMG and its promoters will collectively hold approximately 25% ownership in Greenko. The deal is expected to close in July 2025.
As part of this broader partnership, ORIX will also invest in a convertible instrument issued by AM Green (Luxembourg) S.à.r.l (“AMG Lux”), the parent entity of AMG. This move gives ORIX long-term exposure to emerging green molecules such as green hydrogen, green ammonia, and sustainable aviation fuel (SAF), in line with its capital reallocation strategy.
“This partnership marks a major step toward creating a globally integrated green energy platform,” said Anil Chalamalasetty, Founder and CEO of AM Green. “We appreciate ORIX’s continued support and confidence in our mission.”
With this transaction, AM Green bolsters its integration with Greenko—India’s leading renewable energy operator with over 10 GW of renewable and pumped storage capacity. Greenko is currently developing a transformative energy storage platform with a planned capacity exceeding 100 GWh per day by 2030.
The acquisition increases AM Green’s stake in Greenko to approximately 25%, strengthening its position in one of the leading players in renewable energy and energy storage infrastructure. Greenko operates over 10 GW of renewable capacity and is on track to build a 100+ GWh energy storage platform by 2030, making this partnership a key milestone in AM Green’s growth strategy.
AM Green is also progressing with its ambitious production plans, including the construction of its first 1 MTPA green ammonia facility and a 5 MTPA green ammonia capacity, alongside a 1 MTPA green hydrogen project. The company’s development pipeline further includes low-carbon caustic soda, sustainable aviation fuel (SAF), ethanol, and other bio-based products, leveraging advanced Chempolis technology to enable sustainable, circular bioeconomy solutions.
Established in 2023 by Greenko’s co-founders Anil Chalamalasetty and Mahesh Kolli, AM Green is among the largest integrated Power-to-X (P2X) platforms globally. The company spans the full decarbonization value chain—covering renewable energy (solar, wind, hydro), long-duration storage (pumped hydro), and green molecule production (hydrogen, ammonia, SAF, etc.).
AM Green is constructing its first green ammonia facility (1 MTPA) in Kakinada, Andhra Pradesh, and has already signed offtake term sheets with major global players, including Uniper SE and Yara Clean Ammonia. To support this, AMG has also secured large-scale power purchase agreements and electrolyzer access through its joint venture with John Cockerill.
The company is actively bidding in India’s green hydrogen tenders and is well-positioned due to its access to competitive green power, domestic electrolyzer manufacturing, and technical depth. Other near-term priorities include low-carbon caustic soda, synthetic fuels like methanol, and sustainable chemicals.
AM Green’s flagship Kakinada industrial complex, now under construction, is set to become the world’s largest integrated green energy zone—featuring 2 MTPA green ammonia capacity, a 2 GW electrolyzer factory, and SAF and green chemical production units. In 2024, AMG acquired Chempolis, a Finnish pioneer in sustainable biomass conversion. Chempolis’ low-emission and zero-waste process enables the conversion of agricultural waste into high-value products such as bioethanol, bio-based chemicals, and cellulosic pulp—further supporting AMG’s Bio2X platform and circular economy goals.
Greenko’s 1.7 GW pumped storage project in Andhra Pradesh is already operational. Two additional projects—totaling 2.5 GW—in Madhya Pradesh and Karnataka are slated for commissioning in 2026 and 2027, respectively. ORIX Group, founded in 1964, has evolved from its leasing roots in Japan into a globally diversified enterprise. The group operates across 30+ countries in sectors including finance, insurance, real estate, energy, and infrastructure. With a workforce of approximately 34,000, ORIX is committed to sustainable progress through innovation, guided by its global purpose: “Finding Paths. Making Impact.”
