Orient Green Power Company Ltd (OGPL), an independent renewable energy power producer, is planning to double the power generation capacity by the end of current fiscal, with an investment of around Rs 1,200-1,300 crore.
The company is planning to add around 225 MW capacity, wind power and biomass capacities combined, to the 220 MW capacity installed till March 31, 2011.
It had 180 MW of wind power and 40 MW of biomass energy generation capacity till the end of last fiscal. The capacity for wind energy would be increased to 330-340 MW while capacity for biomass would be increased to 105 MW by end of current fiscal.
Speaking to Business Standard on the sidelines of the company's AGM, P Krishnakumar, managing director, OGPL, said, "We are looking at increasing capacity to 450 MW of wind energy and 100 MW of biomass energy by next wind season, which starts after the first quarter or next fiscal."
The company is also planning to increase the total production to 550 MW by June, 2012, before the beginning of next wind season in July, 2012, he added. As on August, 2011, the company has a production capacity of 210 MW of wind energy and 50 MW of biomass energy.
"We require around Rs 6 crore as capex per megawatt and in that basis, the total investment for the fiscal will be around Rs 1,200 crore," he said. The company has a cash balance of Rs 200 crore from the IPO it conducted in October, 2010 and no additional fund raising is planned for the current fiscal. The debt equity ratio for investment would be 70:30, he added.
It is planning to commission a total of 155.6 MW of power in wind power segment in Tamil Nadu by the end of current fiscal, according to a recent company report. It would add a total of around 10 MW wind power capacity combined in Gujarat and Karnataka, by the second or third quarter of current fiscal.
In Sri Lanka, it has plans to set up a 10.5 MW wind power project, which would be ready for commissioning by third quarter of current fiscal. It has also plans to set up another 10.5 MW capacity in Croatia by second quarter of current fiscal.
In biomass power generation, the company is planning to add 65.5 MW capacity in the current fiscal, out of which a 10 MW capacity in Pollachi, Tamil Nadu has already been commissioned in July, 2011.
The other projects include a 7.5 MW capacity in Maraikal, Andhra Pradesh, 10 MW capacity in Hanumangarh, Rajasthan, a 10 MW capacity in Narasinghpur, Madhya Prad-esh, estimated to be completed by second quarter of current fiscal. Another 20 MW project in Kolhapur, Maharashtra, and 8 MW project in Kishanganj, Bihar, would be ready by third quarter of current fiscal, expects the company.
Earlier, it has finalised turnkey contract with Suzlon for 50 MW in Gujarat, which would be commissioned in the first quarter of next fiscal and 50 MW in Karnataka to be ready by second quarter of FY 2013. The company expects a plant load factor (PLF) of 29-34 per cent from the new assets, added the company report.
Founded by Shriram EPC in October, 2006, along with Bessemer Venture Partners, OGPL has earlier raised around $35 million fund from Olympyus Capital Holdings Asia, making the company the third partner in the promoter's group.
