OPG Power Generation Private Limited (OPGPL) which is setting up 180 MW thermal power project in the third phase at Gummidipundi near Chennai is expected to complete the project by December 2014. The project cost for the plant is estimated at Rs. 866 crore to be funded in debt to equity ratio of about 3:1.
OPGPL is a Special Purpose Vehicle promoted by OPG Energy Pvt Ltd and Kanishk Steel Industries Ltd. OPGPL had commissioned its first power plant of 77 MW coal based power plant under Phase-I, in April 2010 and a similar power plant under Phase-II in October 2012. Subsequently, the company commissioned its third power plant of 80 MW capacity under Phase-II (Expansion) in June 2013. The company has entered into Fuel Supply Agreement with Mahanadi Coalfields Ltd for indigenous coal. About 65% of the company’s operating capacity is being sold on the basis of short-term agreements with TANGEDCO.
