Top Searches
Advertisement

Wind of Change: Orient Green Power Stakes ₹726.4 Million as TANGEDCO Blows Up Storm Over Clarion Wind Farm


Updated: May 01, 2025 00:45

Image Source: TradeBrains
Orient Green Power Company Ltd (OGPL), a leading renewable energy firm, announced today that it has quantified a claim of ₹726.4 million in response to a petition filed by Tamil Nadu Generation and Distribution Corporation (TANGEDCO) against its subsidiary, Clarion Wind Farm Private Limited. The petition is to revoke Clarion's captive generating plant status for a number of financial years for non-compliance with requirements under the regulatory framework.
 
OGPL, which has a diversified wind power portfolio in India and Europe, said the complaint is due to the financial impact if the captive status is taken away. The company said it is aggressively contesting TANGEDCO's petition and is hopeful of a positive outcome, referring to pending litigation and a Supreme Court stay of related regulatory issues.
 
In its latest financials for the year ended March 31, 2025, OGPL posted a strong performance, with operational revenues going up to ₹26,345 lakh and profit before exceptional items going up 48% year on year. The firm said replacement of parts to chosen windmills would be completed by May 2025, setting OGPL up for expansion in the coming wind season.
 
OGPL's management reaffirmed its dedication to grow its renewable energy presence and assured stakeholders of ongoing efforts to address the regulatory controversy while keeping operational and financial momentum.
 
Source: MarketScreener, Alpha Tribe, OGPL Corporate Filings

Advertisement

STORIES YOU MAY LIKE

Advertisement

Advertisement