In the single largest foreign investment in India’s clean energy space, ORIX Corp. is set to invest $980 million in Greenko Energy Holdings; the Japan’ financial services firm said in a statement.

The deal will also add 873 MW of Orix’ operating wind assets to Hyderabad-based Greenko’s portfolio, and will contribute $100 million to Greenko’s EBITDA in the first year. The deal will also peg GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority (ADIA) backed Greenko’s equity and enterprise value at $5.75 billion and $10.2 billion respectively.

— Mint

ORIX’s USD 980 million investment in GEH is the single largest foreign investment in India’s clean energy space.

Trilegal advised Greenko Energy Holdings and ORIX Corporation on the competition law aspects and related sale of wind power assets by ORIX to GEH, filing of merger notification before the CCI and assistance with other multi-jurisdictional antitrust filings. Its competition team was being led by National Head Competition Law and partner Nisha Kaur Uberoi, also assisted by counsel Gautam Chawla, senior associate Rishabh Juneja, and associates Tanveer Verma and Shivangi Chawla.

Cyril Amarchand Mangaldas represented Greenko Energy Holdings.

AZB & Partners represented Orix Corporation on the Indian corporate aspects of the transaction.

International legal counsels of the transaction included King & Spalding for GEH.

Linklaters acted for ORIX.

Proskauer represented GIC.

2020-09-11

Deal value: INR 7183 crores (USD 980 million)

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.