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Indian renewable-energy producer OGPL sells most of its biomass business to its promoter company SVL Ltd. The price of OGPL’s biomass business amounts to EUR 37 million with a total capacity of 68 MW, excluding a 20 MW CHP plant in Kolhapur, Maharashtra, and a 10 MW plant in Rajasthan, which were sold to the High Court before the deal. In 2016/17, the revenues of the biomass operations decreased by 24 % causing a loss of EUR 11 million as some of the plants were shut down. With the deal, OGPL wants to reduce its outstanding debt of EUR 34 million and focus on wind energy in the future. This was reported by Renewables Now.
Picture credit: Yahoo! Blog from Sunnyvale, California, USA, India fields and wind turbines, CC BY 2.0
