Board of Orient Green Power approves expansion plan in green energy sector

Company’s Managing Director also explained the prospects of the business to expand upto 1 GW in renewable energy in the next two to three years.

The board further confirmed the appointment of consultant for comprehensive study including feasibility, financing and ramping up.

Orient Green is one of the largest Independent Power Producers of Renewable Power in the country.

Ravi Singh, Vice President and Head of Research at Share India said, “Orient Green Power Company reported robust net profit growth of 277% in Sept quarter on QoQ. The company aims to expand up to 1 GW in Renewable Energy in the next 2-3 years and Govt’s strong focus on green & renewable energy provides a great opportunity for the company to become a key leading player in this segment in the coming years.  On technical setup, the momentum indicators and oscillators on daily chart are suggesting near-term target of 14 levels and if the trend sustains above 14 then the level of 16 is most probable.”

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