India: Greenko Group shelves plan to acquire Orange Renewable

Greenko Group founder and president Mahesh Kolli (left) and Greenko Group CEO Anil Kumar Chalamalasetty. Photo: Kumar/Mint

Greenko Group has called off its plan to buy Orange Renewable from Singapore’s AT Capital Group and investment bank Rothschild Inc. has resumed scouting for a buyer for one of India’s largest renewable energy platforms, two people aware of the development said, requesting anonymity. “The contract has expired because of a technical reason,” Greenko Group founder Mahesh Kolli said in response to a query, without giving details. Kolli is also Greenko’s president and joint managing director.

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