Orient-IL&FS Wind Power Merger Hits Roadblock; GIC, ADIA Eye Nitesh Hub

Orient-IL&FS Wind Power Merger Hits Roadblock; GIC, ADIA Eye Nitesh Hub

Negotiations for a merger between the wind power businesses of IL&FS Wind Energy and Shriram Group’s Orient Green Power Ltd have hit a roadblock following the recent fall in wind energy tariffs, a financial daily reported.

Both companies are now looking at other options, unnamed people close to the development told The Economic Times.

However, OGPL vice chairman T Shivaraman told the business daily that the merger talks have not yet been given up. “If it is taking longer than usual, it is because we have been preoccupied with the separation of our biomass business from the wind business.”

The company has now completed formalities of separating the two businesses by selling the biomass business to its holding company Shriram Ventures Ltd, Shivaraman told ET. Read More…

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