KOSEP concluded an MOU with KEPCO KPS and India’s JPGPL to construct and operate a thermal power plant in India.
▲ After signing an agreement, CEO Jang Do-soo of KOSEP (center), CEO Tae Sung-eun of KEPCO KPS (left) and Chairman Manish A Mehta of JPGPL pose for a picture.
Korea South East Power (KOSEP, CEO: Jang Do-soo) will make inroads into the electric power generation market in India.
KOSEP and KEPCO KPS (CEO: Tae Sung-eun) sealed an MOU with JPGPL (Chairman: Manish A. Mehta) of India on August 23 to jointly develop a coal-based thermal power plant in India.
Under the arrangement, the two Korean power companies will construct a 600MW (300MW power generator x 2) power plant in Yavatmal, Maharashtra State of India and operate it for 25 years.
Now that the regulatory approval needed for construction of the power plant and agreement between companies have been completed, Korea’s power companies will start construction work in 2013 and complete it by 2016.
CEO Jang Do-soo of KOSEP said, “Having been developing power generation programs in India, which is suffering from a chronic shortage of power, the company has now successfully received an order for a project. Beginning with this project, the company will more actively participate in developing other power plants in India.”
CEO Tae Sung-eun of KEPCO KPS stated, “Based on our experiences of installing power facilities in India, the company will do its best to maximize efficiency in the new project.”
In response, JPGPL’s Chairman Manish A Mehta said, “It is very desirable for us to join hands with the two companies that have outstanding technologies and experiences in power generation for the new project. We hope to work with these companies for more power generation programs.”
A manager at KOSEP said, “We will be able to carry out a stable power generation business by combining the construction experience and operation capability of KOSEP and top-level technology of repairing power plants and local experience of KEPCO KPS with JPGPL’s experience in managing electric power business.”
Source:todayenergy
