Orient Green Power Limited (OGPL), engaged in developing, owning and operating renewable energy power projects, is planning to expand into overseas markets. The Chennai-based company, promoted by Shriram EPC, is planning to set up 200 MW of renewable energy projects mainly in the wind energy sector outside India and has identified Sri Lanka and Europe as the key markets.
Mr Shivaraman, CEO & MD, OGPL, said the company had picked up 87 per cent stake in Power Lanka (the rest held by a local partner), which would commission and operate a 10.5-MW wind power project. OGPL has already signed a power purchase agreement with the Sri Lankan government for a price of INR 10 per kWh for 20 years.
To establish wind farms in Europe, the company, through its subsidiary Orient Green Power Europe, has acquired a 52 per cent stake in Croatia-based Vjetroelektrana Crnobrdo. It has got an approval for building and operating a 10.5-MW wind power project.