OPG power ventures trading statement update

OPG, the developer and operator of power stations in India, is pleased to present the following trading update for the 3 months ended 30th June 2013.

Operational Highlights

1. 80 MW Chennai III commissioned in June 2013, ahead of schedule, stabilized in 7 days and ramped up to 69% PLF

2. 42% increase in operating capacity to 270 MW from 190 MW

3. Q1 FY14 generation of 363 million units up 7% from Q4 FY13

4. Agreed sales contract with Tamil Nadu State utility at INR 5.50 per KWh until May 2014 for 140 MW from Chennai I and II; and until September 2013 for a further 74 MW Chennai III

5. Extended coal contract for c.40% of total imported coal requirements.

Project Highlights

1. 160 MW Chennai IV – c. 65% of civil works foundation completed; boiler and chimney construction c.20% complete; project on track for commissioning in H2 calendar year 2014

2. 300 MW Gujarat c. 85% civil works and foundation completed and boiler and chimney construction c. 60% completed; project on schedule for commissioning in H2 calendar year 2014.

Source – Strategic Research Institute