DARE - Because Entrepreneurs Do

Orient Green Power, a renewable energy generation company with operations in India, announced completion of a fund raise of US$55 million led by Olympus Capital Holdings Asia. Olympus Capital is investing US$35 million, and Shriram EPC ("SEPC") and Bessemer Venture Partners ("BVP") have invested US$10 million each on the same terms. With the completion of this round of funding, the Company has access to US$75 million of equity, including funds raised earlier from BVP and SEPC.

This equity infusion is in line with OGPL's business plan to achieve its growth objectives. It will provide OGPL with the capital to implement its operating plan of setting up and acquiring power generation assets based on renewable sources including biomass, wind, small hydro, and bio-gas. The company currently operates biomass and wind energy assets with a capacity of 70 MW. It is also implementing projects of a capacity of 146 MW and aspires to install or acquire renewable energy assets of a total capacity of 500 MW over the next 5 years.

Source: Business Wire India

Comments (0)

Subscribe to this comment's feed