OGPL and IL&FS evaluate merger of wind businesses

Orient Green Power Company Ltd (OGPL) announced that the board of directors of the company has approved entering into exclusive discussions with IL&FS Wind Energy to evaluate a potential merger of the wind energy generation businesses of both entities. The resultant merged entity will have 1.2 GW of operating wind capacity, and will be by far the largest listed renewable energy company in India.

OGPL is in the process of demerging its wind and biomass entities into two separate companies, viz OGPL (Wind) and Bio-bijlee Green Power Ltd (Biomass) respectively. Subsequent to the demerger, OGPL will have an operating wind capacity of 425 MW in FY 17 with an additional 43 MW under construction which will augment capacity of the combined entity in FY 18. IL&FS Wind has an operating capacity of 775 MW in FY 17. IL&FS is also developing an additional 228 MW which the merged entity will be in a strong position to acquire.

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