Secondary Recommendation

OPG - 77MW Chennai plant on full throttle

March 2012

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.

OPG has provided a trading update covering the period since its interim results. In terms of the existing power stations, OPG's biggest to date at 77MW and 99% owned Chennai continues full throttle achieving average load factors of over 90% during H2. This more than compensates for the two very early ones, the 10 MW and 24.5MW, where performance remains poor and although these are 33% and 44% owned respectively, they are consolidated into the accounts, which makes headlines look unduly worse.Meantime progress continues at the other new plants. In particular over 77 MW of new capacity at Chennai II, which is complete ahead of time and will be commissioned shortly. Behind this there are two 80MW plants (Chennai III and IV) and the 2 ...

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