Opg Power Regulatory News (OPG)

23 Jun 2009 07:00



OPG POWER VENTURES Plc 

OPG appoints Tata Power to provide operations and maintenance services at Chennai 77 MW plant and to project manage the Kutch 300 MW development

OPG Power Ventures Plc ("The Group" or "OPG") the developer and operator of group captive power plants in India, is pleased to announce that it has signed contracts with Tata Power Company Limited ("Tata Power") to provide operations and maintenance services at its 77 MW coal fired power station development near Chennai and to provide project management services for its 300 MW Kutch development.

Tata Power is India's largest private power utility, with nearly 3000 MW of power in operation and a further 5300 MW of power under development. Its reputation for efficiency and reliability has been established over nearly eight decades of operation.

Arvind Gupta, Managing Director of OPG said: "We are delighted that Tata Power will be providing services at our two developments at Chennai and Kutch. Tata remains the pre-eminent power utility in India, and we look forward to the world class technical and project management they will bring to our developments."

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Note to editors:

OPG Power Ventures Plc is a profitable developer and operator of power plants in India. India's rapid economic growth has been constrained by power shortages and the government has deregulated the industry with a new open market framework allowing developers into the market. The Group Captive Power Producers Scheme, introduced in 2005, allows companies such as OPG to build new power plants to supply electricity directly to groups of customers at mutually agreed prices and the Company has substantial capacity expansion plans. 

OPG has two plants in profitable operation, a further one under construction and two more in the pipeline for medium term development. Taking advantage of the new regulatory environment, OPG's pipeline includes a further five power plants with the capacity to generate 5.5 GWs. Planning for these plants is at an early stage. OPG has secured £125m financing for the Company's 2x150 MW power stations at Kutch, Gujarat, which will be commissioned in 2011.