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LONDON (Alliance News) - OPG Power Ventures PLC Tuesday said it has started operations at its 180 megawatt Chennai IV unit in India, and that all units in Tamil Nadu are now in commercial operation.
OPG said it has an arrangement in place to sell its output to Tamil Nadu Generation and Distribution Company at INR5.50 per kilowatt-hour until September.
It added that 150 megawatts are also in operation in Gujarat, with a further 150 megawatts expected to be in commercial operation around September, once transmission infrastructure is made available by the state.
"This is another feather in the cap of our development team and for the company as a whole. We now have an installed capacity of 600 MW generating commercial sales across two locations, with a further 150 MW still to come - this compares with only 270 MW in March 2015. We have demonstrated our ability to build and deliver two geographically diversified assets of significant size, together with all the supporting logistics, at the same time. We will continue to ramp up electricity generation from our newly commissioned units over the coming weeks," Chief Executive Arvind Gupta said in a statement.
Shares in OPG were trading up 0.5% at 103.50 pence Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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