Orient Green Power Company Limited showcased strong operational and financial performance during its Q3 and nine-month FY 2026 earnings conference call, highlighting significant expansion initiatives and improved profitability metrics. The Chennai-headquartered renewable energy company operates over 380 MW of wind power capacity across key Indian states and maintains a 10.5 MW wind farm in Croatia.

Financial Performance Highlights

The company's nine-month performance demonstrated substantial growth across key metrics, while Q3 results remained consistent with seasonal patterns typical for wind-dominated portfolios.

The improved nine-month performance was attributed to favorable wind patterns, better machine availability during wind season, and a decline in finance costs of over 20%. The profitability also benefited from a one-time refund of excess interest charged by erstwhile lenders in previous periods.

Strategic Capacity Expansion Initiatives

Orient Green Power announced several strategic initiatives expected to significantly boost annual EBITDA by Rs. 36 crores. The company successfully commissioned its first solar power project and secured multiple development contracts.

Tamil Nadu Repowering Policy Implementation

The company became the first to implement projects under Tamil Nadu's newly approved repowering policy. This initiative involves replacing older, underperforming turbines with modern, high-efficiency equipment. The initial repowering project will replace 10 MW of older turbines achieving only 6-7% PLF with 6 MW of new 2.1 MW Suzlon turbines expected to deliver over 30% PLF.

Repowering Impact Analysis:

• Previous EBITDA from 10 MW old capacity: Less than Rs. 1 crore
• Projected EBITDA from 6 MW new capacity: Rs. 7-7.5 crores
• Additional repowering potential: 35 MW of assets over 20 years old

Operational and Financial Structure

The company's current operational portfolio spans 389 MW total capacity, comprising 382 MW wind and 7 MW solar. Performance varies significantly between newer and older assets, with newer turbines achieving 22% PLF compared to 17% for older installations.

Future Growth Strategy

Management outlined ambitious expansion plans targeting 1 GW capacity, though specific timelines remain under discussion. The company is exploring both organic growth and potential acquisitions to achieve this milestone. Current Greenfield costs stand at Rs. 5.5 crores per MW for solar and Rs. 7.5-8 crores per MW for wind projects.

Key Strategic Focus Areas:

• Deploying higher capacity turbines for improved efficiency
• Expanding solar capacity to balance seasonal wind variations
• Developing hybrid wind-solar projects for optimal land utilization
• Leveraging repowering opportunities under favorable policy framework

The company's European operations in Croatia continue generating modest returns with approximately 800,000 Euros EBITDA annually, though no expansion plans exist for international markets. Management emphasized concentration on the Indian renewable energy market, where regulatory environment remains supportive and growth opportunities are substantial.

With the combination of new capacity additions, repowering initiatives, and improved financial metrics, Orient Green Power appears well-positioned to capitalize on India's expanding renewable energy sector while delivering enhanced returns to shareholders.

Orient Green Power has announced a significant milestone through its Co Managing Director, stating that the company's combined projects are expected to generate substantial annual earnings.

Financial Projections

The company's leadership has projected that their combined projects will deliver strong financial performance in terms of operational profitability.

Strategic Significance

This announcement from the Co Managing Director represents a key development for the renewable energy company, demonstrating the expected financial impact of their project portfolio. The projected EBITDA figure indicates the company's confidence in the operational performance and revenue generation capability of their combined projects.

The substantial annual EBITDA projection of Rs. 3,600 lakhs reflects the company's strategic positioning in the renewable energy sector and suggests strong operational efficiency across their project portfolio.