OPG Power Ventures (LON:OPG) said output for the nine months ended December was equal to the total achieved for the last full year as it confirmed trading was in line with market expectations.
In a comprehensive third-quarter trading update the India-focused generator also said it had agreed a new debt repayment schedule for the Gujarat operation.
The maturity has been extended by 10 years, resulting in a £67mln reduction in principal payments from 2017 through to 2021.
This move, OPG said, would “better match repayments with asset performance”.
Operationally, the company is performing well with OPG generating 3.4bn units in the nine months ended December, a rise of 53% on the corresponding period last year.
The average load factor for the year is expected to be 76% for its Chennai operation and 65% at Gujarat. It is receiving 5.33 rupees per kilowatt hour from the former and 3.89 rupees from the latter.
Finally, OPG, which recently paid a maiden dividend, said work on its 62 megawatt Karnataka solar project would begin this year.
The company has secured debt financing for 40 megawatts and is the process of acquiring the land on which it will site the photovoltaic panels.
"Our business model has demonstrated its operational resilience and competitive position and we are particularly pleased to have paid our first interim dividend whilst continuing to make debt repayments and progressing our renewables programme,” said chairman Arvind Gupta.
“The new debt schedule at Gujarat should give us further balance sheet flexibility as we continue to focus on maximising our assets."