OGPL hopes fair winds will help it sail out of the woods


OGPL hopes fair winds will help it sail out of the woods

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

Leave a Reply

Your email address will not be published.