Orient Green Power Company Ltd

Orient Green Power Company Ltd was incorporated on December 6, 2006 in Chennai, Tamil Nadu. The Company is a leading Indian independent renewable energybased power generation company focused on developing, owning and operating a diversified portfolio of renewable energy power plants. The Company is largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity. The Company grew business by acquiring operating and development renewable energy assets from third parties and by developing greenfield projects. They are having a diverse customer base with a mixture of offtake arrangements. Their customers include SEBs, distribution companies, private commercial and industrial consumers and a power trading company. The company is also one of the top two independent operators and developers of wind farms in India based on aggregate installed capacity. The wind energy business focuses on the development and operation of wind farms in India, Europe and South Asia. They are currently operating wind farms are located in the states of Tamil Nadu and Andhra Pradesh. The company sells power from certain of their wind energy projects to private power consumers seeking to supplement state power supplies for captive purposes pursuant to shortterm PPAs in states where such sales are permitted, such as Tamil Nadu. They also sell some of the power from their Indian wind energy projects to SEBs pursuant to longterm PPAs which are generally approximately 20 years in length.In April 2008, the company acquired Amrit Environmental Technologies Pvt Ltd. In November 2008, the company had raised 55 million from Olympus Capital Holdings Asia, Bessemer Venture Partners and Shriram EPC Ltd for setting up wind, biomass, small hydel and biogas power projects.In December 28, 2008, the company acquired Shriram Powergen Ltd by way of share purchase agreement. In January 25, 2010, the company acquired 50.25 % of shares of Bharath Wind Farm Ltd. In January 29, 2010, the acquired the remaining 49.75% of shares of Bharath Wind Farm Ltd by way of gift from Orient Green Power Pte. Ltd, Singapore.As of July 31, 2010, the companys total portfolio of operating projects included 213.03 MW of aggregate installed capacity, which comprised 172.53 MW of wind energy projects and 40.5 MW of biomass projects. Their portfolio of committed and development projects included approximately 836.5 MW of prospective capacity, which comprised an estimated 643.0 MW of wind energy projects, 178.5 MW of biomass projects and a 15.0 MW small hydroelectric project.In August 2010, the company entered into a joint venture with Japanbased NishiNippon Environment Energy Co Inc, and formed Orient Eco Energy Ltd to set up a 7.5 MW poultry litter based power generation project in Namakkal district of Tamil Nadu.The company is in the process of acquiring 3.64 MW of additional wind capacity from a third party. They are expanding their presence of wind farms in Tamil Nadu and developing projects in other locations in India, including the states of Gujarat and Maharashtra, and also internationally, including in Sri Lanka, Croatia, the Czech Republic and Hungary. They are planning to expand into overseas market with an investment of Rs 1500 crore.On January 25, 2010, the company acquired 50.25 % of shares of Bharath Wind Farm Limited and on January 29, 2010, balance 49.75% of shares of Bharath Wind Farm Limited were acquired by Company by way of gift from Orient Green Power Pte. Limited, SingaporeDuring 2011, the company achieved renewable energy capacity of 300 MW. The company through its wholly owned subsidiary Godrej Buildcon Private Limited signed a Development Agreement with JET AIRWAYS (INDIA) LIMITED during the same year,In 2015, the Company completed Synchronization of 20 MW Cogeneration Plant.In 201516, Company acquired entire paid up capital in Orient Green Power (Maharashtra) Private Limited. Pursuant to the same, Orient Green Power (Maharashtra) Private Limited became a wholly owned subsidiary of the Company. One of the Companys equity holding in subsidiary M/s. Pallavi Power Mines Limited (Pallavi), got reduced from 51% to 38.87% due to allotment of shares by Pallavi to Joint Venture Partner and consequent to reduction in holding ,Pallavi became Associate of the Company. The Company transferred its Biomass Power Generation Plant at Pollachi, through slump sale, as a going concern, effective from July, 2015 entered into with Gayatri Green Power Private Limited (GGPPL). In 201617, through Scheme of Arrangement and Amalgamation between the Company and Bharat Wind Farm Private Limited and Biobijlee Green Power Company Limited, the Biomass Undertaking of the Company was demerged into Biobijlee Green Power Company Limited and the wholly owned subsidiary Bharath Wind Farm Limited (BWFL) got merged with the Company effective from October 1, 2015. During the year 2020, the Company disinvested one of its wholly owned subsidiary Biobijlee Green Power Limited and accordingly it ceased to be a subsidiary of the Company.