Orient Green Power Company Limited (OGPCL) announced on Monday, December 1, 2025, that Infomerics Valuation and Rating Limited has upgraded the long-term credit rating of its material subsidiary, Beta Wind Farm Private Limited, which accounts for nearly 97% of the company’s consolidated debt.
According to the regulatory disclosure, Beta’s long-term bank facility rating has been upgraded from IVR BBB-/Stable to IVR BBB/Stable, reflecting stronger financial stability and improved operational performance. The rating action also accompanies a reduction in rated debt from ₹598.53 crore to ₹518.95 crore, indicating ongoing deleveraging efforts.
Why the Rating Was Upgraded
Infomerics highlighted several factors driving the upward revision:
- Improved PLF and operating performance, supported by component upgradation and better machine availability in Andhra Pradesh.
- Strengthened liquidity, aided by stable revenue visibility, steady receivable cycles, and creation of a Debt Servicing Reserve Account (DSRA).
- A stronger financial risk profile, enabled by debt reduction and lower interest expenses.
The report also acknowledged stable PPAs, improved receivables recovery from Andhra Pradesh discoms, and the expertise of OGPC’s renewable-energy operations team, while noting moderate debt-protection metrics and operating efficiency risks typical of wind projects.
Positive Impact on OGPC
The company stated that the rating upgrade triggers an earlier loan-covenant benefit from IREDA—namely, a 25-bps reduction in interest rates, which is expected to improve consolidated profitability going forward.
The management said the improved rating enhances the group’s financial flexibility, strengthens lender confidence, and supports future expansion in renewable energy projects—particularly as India pushes toward long-term clean-energy goals.
