5th Nov 2015 11:22
LONDON (Alliance News) - India-based power generation plant developer and operator OPG Power Ventures PLC on Thursday said is generation capacity continued to ramp up in the second quarter and said its volumes are stronger for the first half.
OPG said it had 600 megawatts of electricity in generation at the end of the second quarter in September, up from 270 megawatts at the same time a year earlier. It expects this to increase to 750 megawatts by January 2016.
The group said its first half volumes were running around 55% higher year-on-year and said it run-rate volume for October is 80% higher and ramping up.
"The developments in sales mix add visibility to our transformational growth. If we can maintain our course, my colleagues and I on the board look forward to the prospect of executing further expansion plans and introducing a dividend policy in the next few months when we expect the Gujarat plant to be fully operational," said Chief Executive Arvind Gupta.
OPG shares were up 1.7% to 81.625 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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