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City broker pleased with OPG Power’s interim results

Cantor Fitzgerald analyst Adam Forsyth spoke positively about India focussed OPG Power Ventures Plc (LON:OPG) following the company’s interim results statement on Tuesday.
 
“We’re seeing a continuation of the ramp up of new capacity,” Forsyth said.
 
“The company has completed the final stage of its Chennai project and brought up fully into operations its Gujarat project. Both of these are now contributing, and I think now from these interim results we’re seeing these running up to quite good operational output.”
 
He also highlights the positive pricing factors in India, where there’s a deficit of power, as well as the company’s expansion and diversification strategies including a move for renewable energy sources.
 
Overall, the analyst rates OPG as a ‘buy’ recommendation, and whilst his price target is presently under review he expects to come back with a strong price target.
 
“We think the wider opportunity in the Indian marketplace means it is a great place for an independent power company, but obviously the ability to execute is very key and I think that the track record of OPG speaks for itself.”

Quick facts: OPG Power Ventures PLC

Price: 15.25 GBX

AIM:OPG
Market: AIM
Market Cap: £61.11 m
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OPG Power presents at the Proactive One2One virtual conference

OPG Power Venture's (LON:OPG) Dmitri Tsvetkov pitches to investors at the Proactive One2One virtual conference. 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...

on 23/10/20

2 min read