You are here: Home » Companies » News
Business Standard

Orient Green divest stake in Sri Lankan arm

BS Reporter  |  Chennai 

Orient Green Power Company, the renewable energy arm of the Rs 50,000-crore Shriram Group, has offloaded its entire stake in Powergen Lanka (Pvt) Ltd, a subsidiary in Sri Lanka. The value of the transaction is estimated at $8 million. According to a company announcement, the firm, with a view to concentrate on fast emerging renewable business in India, decided to exit the small and wind projects abroad and decided to offload its 90 per cent stake in Powergen. Windforce (Pvt) Ltd, Colombo, approached OGPL and accorded its willingess to purchase the stake".

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, July 26 2012. 00:59 IST