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OPG Power to push on again as as it adjusts to volatile coal and freight prices

Last updated: 09:09 22 Jun 2021 BST, First published: 11:00 28 Feb 2019 GMT

Snapshot

  • OPG Power Ventures shares climb after trading update
Meter

About the company

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 as growth.

In our view India provides exciting and dynamic opportunities in our sector given its low and rising per capita consumption of electricity as well as India’s overall economic growth estimates. With its track record of engineering, operations and financial management, OPG is well positioned to play a part in this growing sector.

How it is doing

22 Jun 2021

OPG Power Ventures PLC (AIM: OPG) expects to meet market expectations for profit after tax and cash generation for the year to March 31, 2021.

The company said in a trading update it delivered strong cash generation in a year blighted by the coronavirus (COVID-19) epidemic in India.

The developer and operator of power generation plants noted that despite the epidemic, India’s economy is projected by the World Bank to grow by 8.3% this year and by 7.5% in 2022.

India is currently experiencing a second wave of COVID-19 cases, prompting state authorities to impose various lockdown restrictions but these are being implemented more narrowly with companies and individuals adjusting behaviour in ways that cushion the effects, OPG said.

29 Jan 2021

OPG Power Ventures PLC (LON:OPG) has said electricity demand in India is starting to recover from the impact of the coronavirus (COVID-19) pandemic and it still expects to resume dividend payments this year.

The coal-fired power station owner also said it will unveil a series of ESG in initiatives alongside its full-year results as criticism of the use of thermal power mounts.

01 Dec 2020

OPG Power Ventures PLC (LON:OPG) boosted profit before tax from continuing operations by 32% to £12.8mln in the six months ended September 30, 2020.

Diluted earnings per share increased by 48.2% to 2.92p, although power generation at the group's Chennai plant fell, in line with a drop in demand caused by the coronavirus (COVID-19). Units produced by the plant in Chennai rang in at 0.83bn.

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