Gujarat Transmission Line Update

RNS Number : 1560B

OPG Power Ventures plc

05 October 2015

 

5 October 2015

OPG Power Ventures plc

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

Gujarat transmission line update

Multi-circuit transmission line at Gujarat completed; generation from G2 to commence in Jan 16 - trading in line with expectations

OPG is pleased to announce that the construction of the multi-circuit transmission line established by GETCO for evacuation of the 300 MW Gujarat plant has been completed.  The Company has been informed by the state transmission authority that testing and commissioning of other line-related infrastructure, consisting of sub-station and switchyard, is expected to be completed in the coming weeks.  Accordingly, OPG is expecting commissioning of the second Gujarat 150 MW unit to commence at the beginning of January 2016.  Based on the performance of the Group's existing generation assets, trading continues to be in line with expectations.

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 plants in India, principally under the group captive model, and currently has as an operational capacity of 750 MW.  In the year ended 31 March 2015, the Company operated 270 MW of generating assets and generated revenues of approximately £100 million, EBITDA of £33.4 million and earnings per share of 4.91 pence. 

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