Orient Green Power Company denies stake sale of wind power assets

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Orient Green Power has denied stake sale in certain wind power assets owned by the company.

"This is with reference to a news item in a daily today regarding discussions of possible controlling interest in some wind power assets of the company and its subsidiaries by a private equity arm of a development financial institution. It is hereby clarified that the news item is speculative in nature and does not have any basis and the company is not looking to divest its controlling stake in any subsidiary to any entity," the company said in a notice to the Bombay Stock Exchange.

A new reports had stated that a leading private equity arm was discussing a large stake buy, possibly a controlling interest, in select wind power assets owned by Orient Green Power Company.

Shares of Orient Green were up 12 per cent.

The Orient Green Power's website says that it is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity.

Currently its portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.


Story first published: Wednesday, December 11, 2013, 11:45 [IST]
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