Orient Green Power to raise Rs 900 crore through IPO

The company has plans to invest about Rs 4,000 crore for increasing the capacity to 1,000 mw by March 2013, from 230 mw as of now.

Of the total requirement, Rs 900 crore would be raised through an IPO, Orient Green Power Company Vice-Chairman and CEO T Shivaraman told reporters.

“We intend to raise Rs 900 crore through an IPO which we have filed with Sebi. The balance will come through debt and internal accruals. These investments will be required to take the target installed capacity of 1008.6 MW by March 2013,” he said.

“The expansion is going to be a small percentage of what India needs. Today, we are at 15,000 MW of renewable energy. I think it will go up to 150,000 MW in the next three years,” he said.