Gujarat plant second 150 MW unit operational

RNS Number : 6063N

OPG Power Ventures plc

01 February 2016

 

1 February 2016

OPG Power Ventures plc

("OPG", the "Group" or the "Company")

Gujarat plant second 150 MW unit - commercial operation commenced

OPG is pleased to announce that the second 150 MW unit at our Gujarat plant commenced commercial operations on 30 January 2016.    

The Company expects to issue its Q3 trading update in the week commencing 22 February 2016.

For further information, please visit www.opgpower.com or contact:

OPG Power Ventures PLC	[phone]
Arvind Gupta / V Narayan Swami / Ajay Paliwal
Cenkos Securities (Nominated Adviser & Broker)
Stephen Keys / Camilla Hume	[phone]
Tavistock
Simon Hudson / James Collins	[phone]

About OPG

OPG operates and develops power generation related assets in India, principally under the group captive model, and currently has 600 MW of assets in operation.  In the six months ended 30 September 2015, according to its unaudited results for the period, the Company generated revenues of approximately £56 million, EBITDA of £23.25 million and earnings per share of 3.41 pence.  OPG expects to commission an additional 150 MW of capacity shortly and is in the process of evaluating further projects. 

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