Mumbai: Tata group company Tata Power and Korea East-West Power, a fossil fuel power generation firm, have inked a pact to identify and execute operation and maintenance opportunities in power generation assets in Asia, the Middle-East and Africa.
As per the Memorandum of Understanding, Tata Power and Korea East-West Power (EWP) have initiated technical co- operation in the field of operation and maintenance (O&M) of power generation assets, a release issued on Tuesday stated.
The technical co-operation shall cover exchange of information, best practices and personnel relating to O&M activities.
Tata Power’s brand image and reach in the Indian and overseas markets and EWP’s experience in operating ultra super -critical and CFBC units, development and implementation of plant O&M management system and benchmarking of best practices, put together will help both the firms expand their businesses in India, Korean and other targeted markets.
On the deal, Tata Power’s managing director Prasad Menon said, “the MoU will enable exchange of technical cooperation with Korea East-West Power Company Ltd. Apart from the domestic market, we aim to explore and extend our partnership in widening our operation and maintenance portfolio in the Asian market and look forward to the association.”
Tata Power Services Group is a new business initiative wherein the company is offering O&M, project management and other related services to domestic clients and aims to further expand this business in the domestic and overseas markets.
Under this business initiative, the first contract inked is with OPG Power Generation Pvt Ltd, the release said.
Tata Power will provide O&M services for its 1x80 MW of coal-based thermal power plant situated at Gummidipoondi, Chennai city, which is scheduled to be commissioned shortly.
EWP is one of the largest generation utilities of Korea operating 13 per cent of Korea’s power generating facilities.
EWP has an installed capacity of 9,500 MW and operates coal-fired (4,900 MW), oil-fired (1,800 MW), gas-based (2,100 MW), pumped storage (700 MW) and mini hydro, tidal and solar units (6.5 MW).