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Orient Green Power Company was incorporated under the Companies Act on December 6, 2006 in Chennai, Tamil Nadu. It was granted the certificate for commencement of business on January 8, 2007 by the RoC. There has been no change in the activities being carried out by the company since its incorporation. The company is not operating under any injunction or restraining order.
The company has grown its business by acquiring operating and development renewable energy assets from third parties and by developing greenfield projects. The company has the ability to identify assets where it can improve performance, acquire them at beneficial rates and improve operating performance. It has a diverse customer base with a mixture of off-take arrangements. The company’s customers include SEBs, distribution companies, private commercial and industrial consumers and a power trading company.
The company enters into PPAs with varying pricing arrangements depending on the type of customer, available tariffs, location and term of PPA. As a result of its renewable energy focus, it is able to avail of long-term contracted renewable energy tariff rates that, in general, are higher than long-term contracted tariffs for conventional energy and other incentives aimed at encouraging the renewable energy industry.
Business area of the company
The company is a leading Indian independent renewable energy-based power generation company focused on developing, owning and operating a diversified portfolio of renewable energy power plants. It is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity according to the CRISIL Report dated as of March, 2010. Currently the company’s portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.
Wind Energy Business
The company is one of the top two independent operators and developers of wind farms in India based on aggregate installed capacity according to the CRISIL Report. The wind energy business focuses on the development and operation of wind farms in India, Europe and South Asia. The company’s currently operating wind farms are located in the states of Tamil Nadu and Andhra Pradesh, which are among the top four Indian states with the highest wind potential according to the CRISIL Report and which have favorable incentives for renewable energy companies. The company is currently expanding its presence in Tamil Nadu and developing projects in other locations in India, including the states of Gujarat and Maharashtra, and also internationally, including in Sri Lanka, Croatia, the Czech Republic and Hungary. As at July 31, 2010, its total wind portfolio including operating, committed and development projects was comprised of an estimated aggregate capacity of 815.53 MW. Its wind energy business is housed in its Subsidiaries BWFPL and GGPL.
Biomass Power Business
The company’s biomass power business focuses primarily on the development and operation of multi-fuel biomass-based power plants that generate electricity from agri-residues and waste from agriculture crops, forestry and related industries, such as rice, mustard and soya bean husks, straw, cotton and maize stalks, coconut and ground nut shells, wood chips, poultry litter, and bagasse. The company target regions with sufficient availability of biomass, favorable incentives for renewable energy companies, attractive tariff structures and a shortage of electricity supply. It currently operates five biomass plants and one biogas plant with an aggregate installed capacity of 40.5 MW in Tamil Nadu, Maharashtra and Rajasthan. It also currently has biomass power projects in the committed and development stages in the states of Andhra Pradesh, Gujarat, Madhya Pradesh, Punjab and West Bengal in addition to expanding its presence in Maharashtra, Tamil Nadu and Rajasthan.
The company is developing its capabilities in a small hydroelectric power plant that would serve small communities or industrial and commercial consumers. The company is currently co-developing a 15.0 MW mini-hydroelectric power project in Orissa through its 51% ownership in a joint venture company. It is also evaluating opportunities in solar and other renewable sources including waste-to-energy.
Subsidiaries of the company