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30 Sep 2010 16:50
OPG Power Ventures plc
("OPG" or "the Company")
Statement from the Second Annual General Meeting of Shareholders held on 30th September 2010
OPG Power Ventures PLC, the developer and operator of Group Captive cum Merchant Power plants in India, announces that its Second Annual General Meeting of Shareholders was conducted today. All of the resolutions proposed in the notice of the meeting were duly passed.
The Chairman, Mr M.C. Gupta, speaking at the meeting stated:
"OPG has commenced the current reporting year on a significantly stronger foundation: The Group now has a total operating capacity of 107 MW. The output level at its first large plant at Chennai (77MW), which was commissioned in April 2010, has completed a normal period of stabilisation and is now yielding satisfactory revenues. More milestones remain to be reached, specifically the speedy implementation of the Kutch 2 x 150 MW facility by first half of 2013 as well as further projects under development and in the pipeline. Given the highly favourable environment and market conditions in which the Group operates, OPG looks forward to further growth prospects and value creation in the years to come."
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