Orient Green Power Company Ltd. Rights Issue (Orient Green Power Rights Issue 2024) Detail

Rights Issue Timetable

Orient Green Power Company Limited was founded in 2006 and focuses on the development, ownership and operation of renewable energy power plants.

The company has developed more than 400 MW of wind power capacity through its subsidiaries. In addition, OGPL has developed 106 MW of biomass capacity, including 40 MW directly by the company and 66 MW through its subsidiaries. As of March 31, 2024, the company has a total installed capacity of 402.3 megawatts (MW) and serves 45 customers, most of which are commercial and industrial customers and two government utilities.

As of March 31, 2024, the company had 129 employees, including the managing directors

Objects of the Issue:

The company proposes to utilize the Net Proceeds towards the funding of the following objects:

1. To invest/ infuse funds in a newly incorporated wholly owned subsidiary namely Delta Renewable Energy Private Limited (Delta) for developing the 19.8 MW Solar Power Project in Tamil Nadu (the Phase-1 Power Project);
2. Repayment/Pre-payment of unsecured loan availed by the company from Gamma Green Power Private Limited (GGPPL, one of the subsidiaries of the Company) & Clarion Wind Farm Private Limited (CWFPL, one of the step-down subsidiaries of the company);
3. To lend fresh loans to GGPPL and CWFPL to facilitate them to repay/pre-pay in full or part of unsecured loans availed by them from SVL limited, one of the Corporate Promoters of the Company;
4. Part-payment of security deposits towards contractual lease commitments of Beta Wind Farm Private Limited (BWFPL) one of the subsidiaries of the Company and;
5. General Corporate Purposes