14:26 Tue 22 Dec 2015
OPG Power Ventures - Chennai weather update
("OPG", the "Group" or the "Company")
414 MW Chennai plant
Weather Update - OPG Team accounted for - Plant available throughout and not damaged
New short term contract with TANGEDCO for 77MW
As has been reported, areas around
Our 414MW plant did not suffer any damage and remained available for production throughout the rains. This was as a direct consequence of (a) coal stocks being available in our on-site sheds and (b) drainage of excess water from the plant site operating in accordance with our design. The design incorporated tolerances for significant single rainfall events. Drainage was in fact effective to the point that we were able to assist local communities by making available our drainage systems and expertise for the considerable relief efforts that were required nearby.
At the time of the heaviest rain fall there was lower electricity demand and grid availability. The Board believes that, whilst there is an expectation of a slight reduction in revenues, the Group continues to trade in line with market expectations.
Separately, but indicative of demand being restored post the rains, the Company has entered into a contract with TANGEDCO to supply to them all of the output from one of our 77MW units at a net tariff of INR 5.05 per KwH until the end of
The commissioning timetable of the
For further information, please visit www.opgpower.com or contact:
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+91 (0) 44 429 11 211 |
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Cenkos Securities |
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+44 (0) 20 7397 8900 |
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Tavistock |
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+44 (0) 20 7920 3150 |
About OPG
OPG operates and develops power generation related assets in
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