Orient Green Power Subsidiaries Assigned ICRA BBB (Stable) Rating
Orient Green Power's subsidiaries, Beta Wind Farm and Delta Renewable Energy, received ICRA BBB (Stable) credit ratings. Beta Wind Farm's existing ₹458.63 Crore loan and proposed ₹51.37 Crore expansion loan were rated. Delta Renewable Energy's ₹21 Crore existing and ₹64 Crore proposed loans also received the same rating.
The credit rating impacts the subsidiaries' ability to secure future financing on favorable terms, which can support ongoing operations and expansion plans, thus having a medium-term financial impact on the company.
The assignment of a stable credit rating by ICRA to the company's subsidiaries, along with an improvement in one of the ratings, indicates financial stability and positive prospects.
Orient Green Power Company Limited (OGPCL) has announced that its subsidiaries, Beta Wind Farm Private Limited and Delta Renewable Energy Private Limited, have been assigned an ICRA BBB (Stable) credit rating. This rating signifies a moderate degree of safety regarding the timely servicing of financial obligations.
Beta Wind Farm Private Limited operates 241.6 MW of wind energy projects and has received an ICRA BBB (Stable) rating for its existing loan facility of ₹458.63 Crore. This represents a one-notch improvement from its previous CRISIL BBB- (Positive) rating. Additionally, the proposed 6.6 MW wind power expansion project by Beta Wind Farm has also been assigned the same ICRA BBB (Stable) rating for its upcoming loan facility of ₹51.37 Crore.
Delta Renewable Energy Private Limited, which has commissioned 7 MW of solar capacity and is completing another 18 MW, has also been assigned an ICRA BBB (Stable) rating for its existing ₹21 Crore loan and a proposed ₹64 Crore loan facility. The ratings for both subsidiaries consider strengths such as revenue visibility from long-term Power Purchase Agreements (PPAs), established track records, improved receivable profiles, credit profiles of customers, and comfortable debt coverage metrics.
Approximately 75% of Orient Green's consolidated debt has now been assigned the BBB rating, reinforcing the company's financial strength and commitment to sustainable growth.
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Orient Green Power Company Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Orient Green Power Company Limited. Read the original for the full detail.