Its consolidated net loss was Rs 102.48 crore in the quarter ended on December 31, 2015, Orient Green Power said in a BSE filing yesterday.
Speaking to CNBC-TV18, S Venkatachalam, MD of Orient Green said the combined entity will create one of India's largest listed wind energy company.
In an interview with CNBC-TV18, S Venkatachalam, MD of Orient Green said that the company expects Rs 500 crore worth of revenue and EBITDA in the range of Rs 280-290 crore in FY17.
Biomass is profitable if one runs it on 70-75 percent plant load factor (PLF). However for that, one requires good amount of working capital to ensure to run biomass units at those PLF levels, S Venkatachalam, MD of the company told CNBC-TV18.
S Venkatachalam, managing director, Orient Green Power, says out of the Rs 250 crore raised, Rs 125 crore will be used for expanding projects, while the rest will be used for retiring the high-cost bank loans and getting longer tenures which will lead to larger savings
The State Bank of India (SBI) will hold a general meeting on June 24 to elect four shareholder directors. However, a week before the meeting, investors have expressed reservations on the profile of nominees.