This year, Tamil Nadu has been getting pretty good winds and the wind power generation has gone up compared with last year. One company that is letting out a sigh of relief is Orient Green Power Ltd.
The wind power company, which reckons it lost about ₹250 crore because the state-owned utility in Tamil Nadu did not buy its electricity in the past years, ended 2018-19 with a loss of ₹33 crore.
Also, it did not help that public distribution companies were not paying wind energy companies their dues on time — OGPL has to get ₹30 crore from Andhra Pradesh alone.
Timely receipt of dues would help companies such as OGPL manage their finance costs. OGPL had to contend with finance costs of ₹192 crore last year, upon a ₹1,200-crore bank debt burden. Read More