Orient Green Power to Raise Rs 250 Crore Amidst Robust Wind Energy Growth in India"
Orient Green Power Company has announced plans to raise up to Rs 250 crore through an equity rights issue for its existing shareholders. According to a regulatory filing, the company will issue equity shares with a face value of Rs 10 each, totaling an aggregate amount not exceeding Rs 25,000 lakh (Rs 250 crore). This rights issue will be available to the company's current equity shareholders.
India has a significant presence in the wind energy sector, boasting 45 GW of installed onshore wind capacity as of January 2024. This positions India fourth globally in terms of overall wind installations and second in the Asia-Pacific region, behind China.
The Global Wind Energy Council’s (GWEC) Global Wind Report 2024 forecasts continued growth for the industry, with an additional 22.8 GW of onshore wind capacity expected between 2024 and 2028. In 2023 alone, India installed over 2.8 GW of onshore wind power, marking the highest annual installation since 2017.
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