Orient Green Power has disinvested 8 biomass subsidiaries to Janati Bio Power with effect from December 31, 2017. The company has received Rs 49 crore from the sale consideration.
Janati Bio Power is a subsidiary of SVL, which is a promoter company of Orient Green Power Company.
As on September 2017, SVL was holding 16,36,08,446 equity shares (22.12 percent) and Janati Bio Power was holding 3,43,40,659 equity shares (4.64 percent) in the company.
Orient Green Power is the largest independent operator and developer of renewable energy power plants in the country based on aggregate installed capacity. The company's portfolio currently includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.