OPG Power Ventures Plc. (LON:OPG)

OPG Power Ventures Plc. (LON:OPG)


Share Price
27.00 p
Change
-0.1 (-0.37 %)
Market Cap
£104.74 m
Proactive Investors - Run By Investors For Investors

OPG Power Ventures Plc.

OPG operates and develops power generation assets in India and currently has 414 MW in operation principally under the group captive model and 62MW of Solar assets. 

OPG has been listed on the AIM market of the London Stock Exchange since May 2008 and since listing in 2008, the Company has grown from 20 MW of generating capacity to 476 MW, consistently delivering strong results as well...

EPIC: OPG
Market: AIM:OPG
52-week High/Low: 27.50p / 9.63p
Sector: Energy
Market Cap: 104.74M
Website: www.opgpower.com
col 3
col 4
col 5
col 6

Big Picture – A Deep Dive Examination of the OPG Power Ventures Plc.


OPG Power Ventures Plc. Snapshot

OPG’s overall objective is to build shareholder value and be a first choice provider of power to its customers.

We have pursued this objective by focusing on:

  • Profitable growth
  • Providing reliable and uninterrupted power to its customers at competitive rates

We now believe we have an opportunity to become a leader in the exciting Indian energy sector – leadership in terms of the quality of our earnings and the delivery of profitable, sustainable growth.

Our objectives, our long term focus and now our desire to become a sector leader translates into a short to medium term focus that involves:

  • Maximising the performance of our existing assets
  • Continually seeking ways to reduce our overall cost of capital
  • Pursuing our clearly articulated dividend policy
  • Delivering accretive growth projects and expanding into the renewable power sector
  • Being responsible towards our key stakeholders as we grow
factsheet_420x270.jpg

 

investor-presentations_420x270.jpg

 

Tamil Nadu

 

The Group’s flagship 414 MW coal fired thermal plant is in the industrial state Tamil Nadu close to the ports of Ennore and Chennai.

The plant comprises four units on the same site. The first 77 MW unit commenced operations in 2010 followed by 77 MW Chennai II in 2011, 80 MW Chennai III in 2013 and 180 MW Chennai IV  commencing in June 2015. The EPC for most units was done by our in-house EPC team and the operations are also managed by OPG’s own team.

All units have technology allowing them to use imported coal (typically Indonesian) or domestic (Indian) coal.  Proximity to the ports provides additional flexibility in the procurement of imported or domestic coal. Further, the plant uses air cooling technology reducing water usage by over 90% and is OHSAS 18001:2007 certified for its occupational health and safety systems. All units have maintained compliance with environmental requirements.

Generation from this plant is sold principally to industrial and commercial customers at attractive tariffs. 74 MW (net) is contracted with Tamil Nadu state utility for 15 years until December 2029.

 

Reports submitted to Pollution Control Board

 

The Group’s objective is to mirror its energy mix with that of India and aims to set up 300 MW of renewable projects  over the next three years.

Solar power has now become attractive due to the  significant fall in panel costs and in India, which has high irradiation, it has become viable without subsidies. As a result, India has set a target of installing 100 GW of solar power by 2022  to meet its commitment towards climate change.

62 MW Solar Karnataka

 

The Company has commissioned its first 62 MW of solar projects in FY18, as part of its renewable strategy. The projects are across four sites comprising three sites of 20 MW and one site of 2 MW. Sales from these projects are made to the Karnataka state distribution companies on a 25 year long term Power Purchase Agreement at a tariff of Rs5 per kWh.  The sites are close to existing transmission infrastructure.

 

 

Isle of Man & India.

Mr. Arvind Gupta
EXECUTIVE CHAIRMAN

Mr. Gupta gained experience in various divisions of the business including flour milling, steel production and logistics, becoming President of Kanishk Steel, listed on the Bombay Stock Exchange. Having identified the opportunities in power generation, Mr. Gupta developed this division within Kanishk Steel with initial projects in wind power generation in 1994. He was the pioneer of the Group Captive Power Producer concept in Tamil Nadu State and developed the 18MW gas fired plant of OPG Energy, a Group entity, through to successful operation in 2004. Since then, Mr. Gupta has been responsible for the construction and developments of the power plants of the OPG Group as well as its overall strategy, growth and direction.

Mr. Michael Grasby
NON-EXECUTIVE DIRECTOR

Mr. Grasby is a Chartered Engineer, FIMechE, FIET and has been associated with the UK and international power industry for many years. He was manager of the Drax Power Station between 1991 and 1995 and director of operations for National Power, with responsibilities for over 16,000 MW of generating capacity, until 1998. Following the demerger of National Power in 1999, he joined International Power as senior vice-president for global operations and retired in 2002. Mr. Grasby has experience of power company directorships in the Czech Republic, Portugal, Turkey and Pakistan. Mr. Grasby was also formerly a Non-Executive Director of Drax Plc where he chaired the Health and Safety Committee and sat on the Audit, Remuneration and Nominations Committees. He retired from the Drax Board in April 2011.

Mr. Jeremy Beeton
NON-EXECUTIVE DIRECTOR

Jeremy has been appointed to the OPG Board in November 2016 as a non-executive director. He is a Fellow of the Institution of Civil Engineers with 40 years of international experience in project and programme management over very large multi-site, multiple project operations portfolios for and within government, public companies and private companies. He is also currently an independent non-executive director of SSE plc, John Laing and an independent non-executive director of WYG plc, an Advisory Board member of PricewaterhouseCoopers LLP and Chairman of Merseylink Ltd. Additionally, Jeremy sits on the governing Court of Strathclyde University. He was Director General of the London 2012 Olympic and Paralympic Games from 2007 until the Olympic Baton was passed on to Rio de Janeiro in 2012. For eight years prior to this, he was a Principal Vice President with Bechtel, responsible for their worldwide civil operations and has lived and worked extensively in the Middle East and Asia Pacific. He was awarded CB in the 2013 New Year Honours and holds an honorary Doctorate of Engineering from Napier University.

Jeremy Warner Allen
NON-EXECUTIVE DEPUTY CHAIRMAN

Mr Warner Allen has over 25 years’ experience in capital markets. He is currently a Non-Executive Director of TP Group plc.  Prior to that he was an Executive Director, Board Member and Head of the Growth Companies Team at Cenkos Securities plc, where he advised a number of AIM companies over a period of 11 years.  Prior to joining Cenkos, he was a founding member of Beeson Gregory Limited and responsible for the UK sales desk, a role he retained when Beeson Gregory merged with Evolution Securities in 2002.

Mr Dmitri Tsvetkov
CHIEF FINANCIAL OFFICER

Mr Tsvetkov has over 23 years of financial, accounting and operational experience, including significant experience of working with promoter/founder-led energy sector listed companies in London, Africa, Asia and Canada.

Mr Tsvetkov was Chief Financial Officer of OPG Power Generation Pvt Ltd, the Chennai subsidiary of OPG from July 2017 to October 2017. Prior to that he was Chief Financial Officer of Advance International Exploration, Inc., Interim Chief Executive Officer and Chief Financial Officer of Mart Resources, Inc., a TSX listed oil and gas company, and Chief Financial Controller of Heritage Oil Plc, a FTSE 250 oil and gas company.  Mr Tsvetkov was with PricewaterhouseCoopers in Calgary, Canada and Moscow, Russia from 1994 to 2006.

He has a Chartered Accountant (CA) designation from the Canadian Institute of Chartered Accountants, an FCCA designation from the Association of Chartered and Certified Accountants in the UK and Chartered Financial Analyst (CFA) designation from the CFA Institute in the US.

The total number of issued ordinary shares of OPG Power Ventures Plc as at 29th  June 2018 is 356,308,697. The number of shares "not in public hands" as at 29th June 2018 is 64.6% (Directors & Related & M&G Investment Management Ltd)

Major shareholders are those with shareholdings of 3% or more. As at 29th June 2018 these were disclosed to be: 

Directors & Related 51.6%
M & G Investment Management Ltd 13.0%
River and Mercantile Asset management  LLP  5.3%
British Steel pension Scheme 3.6%
   

OPG Power Ventures Plc is domiciled and incorporated in the Isle of Man. Accordingly the rights of shareholders of OPG may be different from the rights of shareholders in a UK-incorporated company.

Registered office

IOMA House, Hope Street
Douglas, Isle of Man
IM1 1AP

Phone: +44 (0) 1624 681200

Fax: +44 (0) 1624 681390


Corporate Office

No. 6, Sardar Patel Road
Guindy,
Chennai - 600 032
India

Phone: +91 44 42911234

Fax: +91 44 42911209

        +91 44 42911212

Corporate Directory

Nominated Adviser and Broker Cenkos Securities Plc
6-7-8 Tokenhouse Yard
London
EC2R 7AS
Registry Link Asset Services 
34 Beckenham Road,
Beckenham, Kent,
BR3 4TU
Financial PR Tavistock Communications
1 Cornhill
London
EC3V 3ND
Administrators and Company Secretary
FIM Capital Limited

Formerly IOMA Fund and Investment Management Limited
IOMA House
Hope Street
Douglas
Isle of Man 
IM1 1AP

Auditors BDO LLP
55 Baker Street
London
W1U7EU
Legal Advisers Dougherty Quinn
The Chambers
5 Mount Pleasant
Douglas
Isle of Man 
IM1 2PU
Registrars
Link Market Services (Isle of Man) Limited
Clinch’s House
Lord Street
Douglas
Isle of Man
IM99 1RZ
 

 

Please contact us at:

Registered office

IOMA House, Hope Street
Douglas, Isle of Man
IM1 1AP 
Phone: +44 (0) 1624 681200
Fax: +44 (0) 1624 681390

 

Corporate Office

No. 6, Sardar Patel Road
Guindy, 
Chennai - 600 032
India

Phone: +91 44 42911234
Fax: +91 44 42911209
        +91 44 42911212 

 

 

Columns Including OPG

VIEW ALL

Market Reports Including OPG

VIEW ALL
Video RSS

Videos

VIEW ALL VIDEOS

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use