Last checked at 3 Sep 2010 07:00
OPG Power Ventures PLC
("OPG" or the "Company")
Sale of Power from the 77 MW Power Plant to the Tamil Nadu Electricity Board
OPG, the developer and operator of Group Captive and merchant power plants in India, is pleased to announce that it has secured a contract, through the Power Trading Corporation of India Ltd, with the Tamil Nadu Electricity Board ("TNEB") for the supply of up to 60 MW of round the clock power until May 31, 2011 at an average price of Rs. 5.10 per Kwh.
The company also has short term contracts with industrial customers for sale of power at rates between Rs 5.00 and Rs 6.00 per Kwh.
The 77 MW plant is now operating, after the customary period of stabilization, at levels close to capacity. As such the Company expects to operate this plant at relatively high levels of output ranging from 85% to 95 % of capacity.
For further information, please visit www.opgpower.com or contact:
| OPG Power Ventures Plc |
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| Arvind Gupta (Managing Director) | +44 (0) 7814 830 893 +91 (0) 98400 96299 +91 (0) 44 429 11 222
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| V. Narayan Swami (Finance Director) | +91 (0) 99400 17927 +91 (0) 44 42911214
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| Martin Gatto (Senior Non Executive Director) | +44 (0) 7778 749 223 |
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| Cenkos Securities (Nominated Adviser & Broker) | +44 (0) 20 7397 8900 |
| Stephen Keys/ Camilla Hume |
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| Tavistock Communications | +44 (0) 20 7920 3150 |
| Simon Hudson / James Midmer |
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