Indian power generation company OPG Power Ventures (LON:OPG) has shown it is making good progress at its power plants.
The company revealed that those plants already generating power (Chennai I, II and III) produced 363 million megawatts in the latest quarter, up 7% from 338 million megawatts in the previous three months.
This represents a 197% increase on last year’s corresponding period and means OPG has generated 932 million megawatts since the start of 2013.
It sold power at an average of 5.65 rupees per kilowatt hour (kWh), compared with 5.59 Rs/kWh in the preceding quarter.
In a trading update, OPG reflected on a busy quarter in which it extended a coal supply deal from Indonesia for another year, brought the Chennai III plant online and agreed a power sales contract with the state of Tamil Nadu.
As for development, the Chennai IV and Gujarat projects are now 65% and 85% complete respectively in terms of civil works and foundations, while 20% of the chimney and boiler related construction is done at the fourth Chennai plant and 60% of this work is finished at Gujarat.
Both projects are on track for commissioning in the second half of next year.