Sahara India Power Corp Ltd will set up 6,000-mw power plants in India in association with Korea East-West Power Co Ltd. The companies have entered into an agreement to jointly participate in tariff-based bidding for ultra mega power projects and other opportunities in India to add up to a total capacity of 6000-mw, the official statement said. The two companies would explore possibilities of power generation through thermal, hydro and solar resources, it said.
The two companies are already setting up a 1,320-mw power generating plant at Titlagarh in Orissa with an investment of about Rs 8,000 crore.
Sahara India Power Corp chief executive officer Ashok Bhargava said, "We are delighted to partner with Korea East - West Power Co, Ltd. in setting up 6,000-mw power projects in India."Korea East-West Power Co has a power generating capacity of 9,509 mw in that country.
Korea East-West Power Co president and chief executive officer Lee Gil Gu said, "We are happy to associate with Sahara India Power Corporation Ltd. and bring in our international expertise in power generation. India is an important country for us as it is one of the emerging powers of the world and with Sahara India Power as our partner we are confident that our projects will serve the energy requirement in the all round integrated further development of India."
Out of four UMPPs that are currently under development, billionaire Anil Ambani-promoted Reliance Power has got three, while salt-to-software Tata group's power arm Tata Power has one under its kitty.
Indian government had launched the UMPP program to fast develop the inadequate power infrastructure by involvement of private players.
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