Orient Green Power raises $55 million from private investors

Orient Green has raised $55 million from Olympus Capital Holdings Asia, Bessemer Venture Partners and Shriram EPC Ltd. for setting up wind, bio-mass, small hydel and bio-gas power projects. Leveraging its total equity of $75 million, Orient Green will raise debt from domestic banks to fund its ongoing as well as future plans. Operating 70 MW of renewable energy projects in India (15MW bio-mass, 55MW wind energy), the Rs.450 million revenue Orient Green is planning to acquire or install renewable energy assets to the tune of 514 MW by 2013.

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