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OPG Power - Ambitions grow four-fold to 5400 MW capacity by 2020

February 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

We met with finance director V Narayan Swami on a UK visit during the month. That followed our main recommendation last month and so we are adding some new details to what was said then.First, there has been an astonishing update on planned capacity. There are three plants up and running at the moment. A small extension to one plant is coming down the pipe next quarter (6MW at the 19.4MW Tamil Nadu plant) but setting that aside, the next big uplift in capacity comes from the second plant at Chennai (77MW), which is on track for Q2 12 with the 2x150MW plant at Gujarat to follow in Q2 13. As we said last month, based on these being up and running, broker Cenkos is looking at annualised EBITDA of Â£137m and earnings of 26.7p.B ...

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