London, UK, 9 December 2021

OPG Power Ventures (OPG): FY22 interim results

OPG Power Venture (OPG) has modern thermal power generation assets and a strong balance sheet to see it through the current coal price headwind, which is also masking the short-term valuation. Future value generation could also come from the intention to expand renewables activities, which could benefit from the group's current roster of captive customers.

The coal price machinations are affecting profitability and hence short-term valuation metrics. The underlying valuation is highlighted by the pre COIVD-19 2020 P/E of 6.1x or the 69% discount to net asset value (41.0p/share).
 

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