Deal Street

October 27, 2018

Linklaters advises Greenko Group on acquisition of Orange Renewable from AT Capital Group


In a transaction which represents one of the largest portfolio acquisitions of Indian renewable assets to date, London-based multinational law firm Linklaters recently advised the Greenko Group, one of India's fastest-growing Independent Power Producers, on its acquisition of Orange Renewable Holding Pte Ltd from Singapore-based AT Capital Group, a News Release issued by the law firm on October 26 stated.

The Orange Renewables group, a developer and operator of renewable energy projects, comprises around 750-MW operating solar and wind assets across India with another 250-MW near-operational assets.

The Linklaters team was led by Corporate M&A Partner Parthiv Rishi and was assisted by Associates Tom Gillespie and Robert Ferag.

In this regard, Rishi said, “We are very pleased to have advised the Greenko Group on this significant transaction, which is an important one in the sector and one which will help consolidate Greenko’s position as one of the leading renewables groups in India.” Rishi further added, “India is leading the way in the development of renewable wind and solar power capabilities.

With the backdrop of India’s 2022 renewables target which it made as part of the Paris climate agreement coupled with the decreasing costs of wind and solar technology, I think we will continue to see further growth in the sector; and the downward pressure on tariffs I believe will lead to further consolidation of assets in the Indian market. The acquisition of Orange, along with Greenko’s recent agreement to buy Skieron Renewables, is a sign of this.”

The law firm takes pride in announcing that the acquisition of Orange Renewables is the second major transaction that it has undertaken for the Greenko Group, having also advised Greenko on its acquisition of the Indian solar and wind assets of SunEdison in 2016, which was also led by Corporate M&A Partner Parthiv Rishi.

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