LONDON (Alliance News) - OPG Power Ventures PLC on Tuesday said it expects to meet market expectations for the financial year that ended in March, as its Gujarat plant started operations and its Chennai IV site is expected to start commercial operation by the end of this month.
OPG, which is an Indian power plant developer and operator, said the Gujarat plant has now started commercial operations. The company said it expects the output from the plant to ramp up over the course of the year as India's state transmission company makes more transmission capacity available.
Elsewhere, the company said its Chennai IV project is progressing towards commercial operations and is expected to come online by the end of the month.
OPG added its load factors in the final quarter of its financial year to the end of March remained strong, with the average load factor for its plants at 91% for the year. Average tariffs for the group also improved year-on-year.
It therefore expects its results for the year to March to have been in line with market expectations.
Shares in OPG were trading flat at 88.00 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Opg Power (OPG)