23rd Oct 2013 11:50
LONDON (Alliance News) - Power plant operator OPG Power Ventures PLC Wednesday said it has agreed to extend its power supply agreement with the Tamil Nadu State Electricity Board in India by eight months.
In July, the company which focuses on developing and operating plants in India, said it had entered into a contract to sell power from its 80 MW Chennai III plant to the board until September 2013.
As part of the new deal, OPG will supply 74MW from the plant to the board at INR5.50 per KWH until the end of May 2014.
Overall, the company now supplies 214 MW from its three operating Chennai plants to the board under arrangements continuing until May 2014.
The stock was trading at 61.35 pence Wednesday morning, up 1.10 pence or 1.8%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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