15th Oct 2014 09:26
LONDON (Alliance News) - OPG Power Ventures PLC Wednesday said it has secured a new 255 megawatt agreement with the Tamil Nadu Generation and Distribution Co in India.
Under the deal, India-focused captive power plants developer OPG will supply an aggregate 95MW from its Chennai I and II power plants at INR5.50 per kilowatt hour until September 30, 2015.
A further 160MW will be supplied to Tamil Nadu from the Chennai IV plant until the same date following the start of commercial operations at the unit.
Commissioning at Chennai IV is set to start in December this year, with commercial operations expected to begin in the first quarter of 2015.
OPG also said 74MW will be supplied to Tamil Nadu under the 15-year long-term variable tariff agreement the pair entered into earlier this year.
It added that, in addition to the new Tamil Nadu contracts, it is supplying 55MW directly to certain industrial customers at varying prices under short-term contracts.
By Sam Unsted; [email protected]; @SamUAtAlliance
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