Tata Power and Korea East West Company to Jointly Identify and Execute O&M Opportunities

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Researched by Industrial Info Resources (Sugar Land, Texas)--Integrated power utility companies Tata Power Company Limited (BSE:500400) (Mumbai) and Korea East West Company (EWP) (Seoul, South Korea) signed a memorandum of understanding in which the two companies will jointly identify and execute opportunities pertaining to operation and maintenance (O&M) of third-party power generation assets in Africa, Asia and the Middle East.

The memorandum has led to the two companies' initiating an agreement to further technical cooperation in the areas concerned. The two companies will exchange personnel, information, and best practices in the areas related to O&M of generation assets.

The brand image of Tata Power and its reach across both India and the international markets, coupled with EWP's expertise and experience in operating ultra-supercritical and circulating fluidized bed combustion units, benchmarking of best practices, and development and implementation of plant O&M management systems for real-time cost optimization, monitoring and controlling, will enable the two companies to increase their business presence in India, Korea and the other targeted markets.

Tata Power is the largest private-sector power utility company in India and has an installed power generation capacity of approximately 3,000 megawatts (MW). The company operates in every aspect of the power business: generation, distribution and trading. It owns and operates hydropower, thermal power, solar power and wind power units. Tata Power is currently developing India's first 4,000-MW ultra-mega power project (UMPP) in Mundra, Gujarat. The UMPP will be based on supercritical technology. In April 2007, Tata Power acquired Coastal Gujarat Power Limited, a special purpose vehicle established for the Mundra UMPP, from Power Finance Corporation Limited (BSE:532810) (New Delhi). Mundra is also the site where India's power project development company Adani Power Limited (BSE:533096) (Ahmedabad, Gujarat) is developing a 4,620-MW thermal power station in four phases. Adani Power is a group company of multi-product export company Adani Enterprise Limited (BSE:512599) (Ahmedabad).

The Tata Power Services Group is Tata Power's new business venture that offers O&M, project management and several other related services to its Indian clients. The company plans to expand its business in both the domestic and international markets.

EWP is one of the largest power generating companies in South Korea and operates about 13% of the nation's installed generation capacity. EWP has an installed capacity of 9,500 MW, of which 4,900 MW is coal-based, 1,800 MW is oil-based, 2,100 MW is gas-based, 700 MW is generated by pumped storage, and about 6.5 MW is generated by mini hydro, solar and tidal units.

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