Orient Green Power dilutes entire stake in Theta Wind

Andhra Pradesh-based Axis Energy picks up the stake in non-operative subsidiary

Orient Green Power Company (OGPL) informed BSE it hasdivested the entire equity stake in its non-operative subsidiary Theta Wind Energy Private Ltd.

According to company officials, Theta Wind Energy is a non-operating subsidiary and was holding licence to set up a 200-300 Mw wind unit in Andhra Pradesh.

The stake was acquired by Andhra-based Axis Energy, said the company official.

Renewable energy producer OGPL is backed by Bessemer Ventures Partners and Olympus Capital Holdings Asia. As of Jan 2014, its portfolio of operating projects included 510.355 Mw of aggregated capacity, including 424.355 Mw of wind energy and 86 Mw biomass.