Orient Green divest stake in Sri Lankan arm

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".