Sale of Power from 77 MW Plan

RNS Number : 0905S

OPG Power Ventures plc

03 September 2010

 



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
Arvind Gupta (Managing Director)	[phone] [phone] [phone]
V. Narayan Swami (Finance Director)	[phone] [phone]
Martin Gatto (Senior Non Executive Director)	[phone]
Cenkos Securities (Nominated Adviser & Broker)	[phone]
Stephen Keys/ Camilla Hume
Tavistock Communications	[phone]
Simon Hudson / James Midmer

 

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