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Beta Wind Farm Raises $249Mn Loan for Power Projects

  • The firm raised $111Mn with an 11-year facility, and $30Mn from a seven-year loan to fund a 156- megawatt renewable-energy project in AP and it also got R536Cr 10-year loan to finance projects in the states of Andhra Pradesh and Gujarat with a total capacity of 144 megawatts.

Axis Bank was the arranger for the transaction.

  • Beta Wind Farm Pvt Ltd is a subsidiary of the BSE-listed Orient Green Power Company Ltd. Orient Green Power is also planning to pledge 23 per cent of the equity shares held in BETA towards IL&FS Financial Services Ltd (IFIN) and other lenders. It is being done for sanctioning of bridge loan of R90Cr.
  • Incorporated in December 2006, OGPL is in the business of building and operating renewable energy-based power plants. It started generating power in April 2008 after it acquired the first biomass plant in Kotputli, Rajasthan.The company is a 94.75% subsidiary of Singapore-based Orient Green Power Pte. Ltd, which is owned by Shriram EPC, Singapore (37.7%), Bessemer Venture Partners (37.7%) and AEP Green Power Limited (24.6%). Bessemer India and AEP Green are the private equity investors in OGPPL.

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