Orient Green Power to sell loss-making biomass business for Rs 2.75 billion

Orient Green Power Company Limited (OGPL) is planning to sell its biomass business to its promoter company – Shriram Ventures Limited. The enterprise value of the sale is estimated to be around Rs 2.75 billion. The proposed deal will help the company offload its piling debt. In a separate development, OGPL’s plan to merge its wind power assets with IL&FS Wind Energy Limited has reached the final stage. OGPL will merge its wind assets of 425 MW with IL&FS Wind Energy Limited that already has 700 MW of wind power assets. The merged entity will comprise wind assets of both the companies.


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