Orient Green Power raises $55 million

India-based renewable energy company Orient Green Power Ltd. announced it has raised $55 million in funding to establish and acquire power generation assets involving biomass, cogeneration, biogas and more. The company operates two 7.5-megawatt biomass plants in Tamil Nadu and Rajasthan, India, and is in the process of implementing a 7.5-megwatt poultry-litter-fired biomass power plant in Andra Pradesh, India. It plans to construct additional biomass power plants ranging from 7.5 to 10 megawatts in several Indian states. The company said it aims to build more than 500 megawatts in assets over the next five years.