India Power Corporation, Uniper in a JV
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Kolkata: India Power Corporation Ltd, a Kanoria Foundation company, on Thursday said it had entered into a joint venture agreement with Germany-based energy company Uniper AG to set up a power services company.
India Uniper Power Services, the 50:50 JV between India Power and Uniper, is a power servicing company which would offer its services to power generators and distributors facing difficulties in managing and running their companies efficiently.
In a statement on the National Stock Exchange, India Power said the joint venture entity will offer a range of customised services to customers who can choose from full-service arrangements or from individual services. The services would include plant operations and maintenance, asset monitoring software and analytical tools, supply and integration of pollution control equipment and systems, etc., the statement said.
Though the company has not disclosed the financial details of the deal, a spokesperson said it is not a high capital-intensive venture. However, the German partner would bring in its global expertise in terms of managing and running power companies efficiently, the spokesperson added.