OPG Power Ventures PLC, a London Stock Exchange-listed power company, is expanding its presence in India with an investment of Rs 3,000 crore.
The company will set up three new power plants –- an 80Mw thermal power plant in Chennai, Tamil Nadu; a 160Mw (80x2) thermal power plant in Chennai, and a 300Mw (150x2) thermal plant in Kutch, Gujarat. These projects are all coal–based and will start generating power by 2014.
Arvind Gupta, CEO, OPG Power Ventures Plc, in a statement said, "In the recent years, India’s energy consumption has grown at the fastest rate in the world due to rising population and economic developments. This growth leads to a huge demand and supply gap and gives us a huge opportunity to grow our business. India is a resourceful country in terms of exhaustible and renewables."
“We have been growing with each year and hope to continue this growth to achieve continued success,” he added.
OPG Power is focusing on the Indian market through non-traditional routes via Group captive and merchant markets. Currently, OPG is a producer of Group Captive Thermal Power in India with an existing operating capacity of 112 Mw generated by its three existing power plants.
Located in the states of Tamil Nadu and Gujarat, these plants are one coal-fired, one gas-fired and the third a waste heat recovery plant. This capacity is being expanded by an additional unit of 77 Mw, which will start generating power shortly.
All the new projects are being set up near ports which will give the company advantage and flexibility to use both domestic and imported coal.
In building and operating, OPG works with a team of industry-leading suppliers and contractors including BHEL (Bharat Heavy Electricals Limited) and Ansaldo Boilers.
