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Orient Green Power to expand capacity

S. Varadharajan


Accent on renewable energy

Rs. 40 crore outlay on Vandavasi plant


CHENNAI: Orient Green Power Limited (OGPL), a subsidiary of Singapore-based Orient Green Power Pte. Ltd.  with a diversified portfolio of renewable energy plants in India, has drawn up plans to increase the capacity to 800 MW by March 2012. As on March 31, 2010, its installed capacity was 193.1 MW comprising 152.6 MW of wind farms and 40.5 MW from biomass-based power plants.  By the end of the current financial year, it plans to reach a capacity of  340 MW.

Addressing visiting presspersons to one of its biomass-based power plants located at Vandavasi in Tamil Nadu, T. Shivaraman, Vice-Chairman and CEO, said the company was planning to raise the capacity to 1,000 MW by March 31, 2013. The total outlay is estimated at Rs. 4,000 crore. The required resources would be raised through an initial public offer (IPO) for Rs. 900 crore, internal accruals and debt, he said. The biomass plant at Vandavasi with a capacity of 7.5 MW, involved an outlay of Rs. 40 crore. The Vandavasi unit generates electricity using rice husk, wood chips and poultry litter as fuels. The company is operating five biomass plants and a biogas plant in Tamil Nadu, Maharashtra and Rajasthan. Three of the biomass power plants were acquired in the operating stage from third parties. The company has multi-fuel biomass-based projects in the committed and development stages in Andhra Pradesh, Gujarat, Madhya Pradesh, Punjab and West Bengal .

The portfolio of committed and development projects comprised 622 MW of wind energy, 178.5 MW of biomass and 15 MW of small hydroelectric projects, totalling 815.5 MW of capacity, Mr. Shivaraman said.  

Orient Green Power sells power from biomass to industrial consumers, distribution companies and state electricity boards.

The tariffs range from Rs. 3.50 to Rs. 4.70 per kWh under long-term power purchase agreements (PPA) and co-generation BOOT (build-own-operate and transfer) agreements.

Besides, it sells electricity in the open access market for up to Rs. 6.50 per kWh. Orient Green Power Pte Ltd  is owned by Shriram EPC, Singapore (37.7 per cent), with private equity investors Bessemer India Capital OGPL and Olympus Capital holding the balance.

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