Beta Wind Farm Pvt Ltd, a subsidiary Orient Green Power Company Ltd isplanning to set up a 300-Mw wind project, has decided to split the project intotwo phases. While 156 Mw would come up in Tamil Nadu in the first phase, PhaseII relates to implementation of 144 Mw in Andhra Pradesh and Gujarat. For PhaseII, it has availed of Rs 536 crore loan for which Orient Green Power issuedcorporate guarantee to Axis Bank. This is in addition to the guarantee for Rs1,236 crore already issued to the bank earlier. The Rs 1,236 crore term loanwas secured from a consortium of ten banks with Axis Bank being the lead bank. Thecompany is also planning to pledge 23 per cent equity shares held in Betatowards IL&FS Financial Services Ltd and other lenders, for sanctioning abridge loan of Rs 90 crore.
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