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Board of Orient Green Power Company approves selling of biomass unit

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At meeting held on 05 April 2014

The Board of Directors of Orient Green Power Company at its meeting held on 05 April 2014, has approved the proposal to sell whole of the 10 MW Biomass Unit of the Company located at Samathur, Karianchettypalayam Village, Pollachi Taluk 642 123, Coimbatore District, Tamil Nadu by way of slump sale "on a going concern basis", to one of its wholly owned subsidiaries subject to the approval of the shareholders and other approvals as may be required for such sale.

This is to facilitate the unit to sell power on the Group Captive mode in Tamil Nadu which would help in stability of operations and realisation.

 

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First Published: Apr 07 2014 | 1:18 PM IST

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