Orient Green Power Company has acquired 2,33,333 equity shares at a face value of ₹10 each in its subsidiary, Delta Renewable Energy Private Limited. The acquisition, valued at ₹23,33,330, is part of the fourth tranche of Delta’s preferential issue.
Delta Renewable Energy, incorporated in November 2023, focuses on solar power projects in Tamil Nadu. It has already commissioned a 7 MW AC / 9.8 MW DC solar power project and is developing another 17.6 MW AC (24.64 MW DC) project.
The transaction is classified as a related party transaction under SEBI regulations, with Orient Green Power maintaining its 70% equity stake in Delta.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).