OPG Power Ventures Chief Financial Officer Ajit Pratap Singh resigns

(Alliance News) - OPG Power Ventures PLC on Friday said it expects to report earnings in line with market expectations in the year to March 31 as its chief financial officer steps down.

The Isle of Man-based developer and operator of power plants in India said Ajit Pratap Singh has stepped down as chief financial officer for personal reasons.

It will now start the process of hiring a new CFO, OPG said.

The company said in the 2025 financial year to date it has achieved a plant load factor of 69.6% compared to 69.7% and 69.2% during the previous two years.

OPG Power Ventures said it has repaid the term debt of GBP17.5 million during the financial year, and its gross debt has reduced by 61% to GBP11.1 million at the end of December from GBP28.6 million at the start of the last financial year.

The company also said it is evaluating and assessing various energy sector investment opportunities with different state governments in India.

It has signed a memorandum of understanding with the governments of Madhya Pradesh and Karnataka.

OPG Power Ventures said it continues to cooperate with and provide requested information to the investigation into alleged regulatory non-compliance under the Foreign Exchange Management Act.

Shares in OPG Power Ventures were up 8.7% to 5.00 pence in London on Friday afternoon.

By Michael Hennessey, Alliance News reporter

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