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14 Mar | OPG Power Ventures – We’re Back In

So we’ve top-sliced our PV Crystalox Solar holding (pocketing a handy 15% in five weeks into the bargain) and taken up a little OPG Power Ventures with the proceeds. After buying in to PV Crystalox Solar at 4.40, then again at 5.15 and yet again at 5.40 pence, even the optimist in me was saying, hang on there mate, slow up a bit.

We’re still holding 70K shares in PV Crystalox Solar – averaged in at 4.74 pence – and with interims due at the end of the month, I’m quietly optimistic that anything but catastrophic news (it can’t get much worse than what’s already been reported and factored into the price, can it?) may see a baby bounce in the price. And when you’ve traded at multiples of 35 times where you’re currently at, even a baby bounce can rapidly turn a holding such as ours into a double-bagger. But I’m getting ahead of myself.

You may remember we wrote about OPG Power Ventures late last year. They’re an Indian power company with ambitious (fully-funded) plans to increase their capacity five-fold by by the end of 2013. We held them for a period in 2010, taking a small profit before looking for something a little more speculative.

Now, supplying power to India is liking offering beer to a stag party – you know it’s going to get taken up.

So with that in mind, here in a nutshell – and rather lazily copied and pasted directly from the OPG website – is the over-riding reason why we’re back in:

OPG…has a…current operating capacity of 107 MW. A further 537 MW is under construction or development with all of this capacity scheduled to come on-stream during 2012 and 2013. Another 600 MW is in the pipeline, giving a projected total capacity of 1250 MW by 2015, a greater than tenfold increase from the current position.

Thanks again for dropping by.

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Paul
rsvp@investorsoiree.co.uk