Orient Green Power to Raise INR 250 Crore through Rights Issue to Shareholders

Orient Green Power Company Limited plans to raise up to INR 250 crore through the issuance of equity rights to its existing shareholders. According to a BSE filing, the company will issue equity shares with a face value of INR 10 each, targeting an aggregate amount not exceeding INR 250 crore on a rights basis.

Orient Green Power is an Indian company focused on generating power from renewable energy sources, primarily wind energy. The company boasts a portfolio of 402.3 MW of wind assets spread across Tamil Nadu, Andhra Pradesh, Gujarat, and Karnataka. Additionally, it owns a 10.5 MW wind farm in Croatia, Europe.

The company's subsidiaries include Beta Wind Farm Private Limited, Gamma Green Power Private Limited, Bharath Wind Farm Limited, Orient Green Power Europe BV, Amrit Environmental Technologies Private Limited, Orient Green Power (Maharashtra) Private Limited, Clarion Wind Farm Private Limited, Vjetro Elektrana Crno Brdo d.o.o, and Orient Green Power d.o.o. 

This move to raise capital through a rights issue aims to strengthen its financial position and support further expansion in the renewable energy sector.