08/29/2011 | Editor: Dominik Stephan
Indian Sahara and Korean Kepco team up to build a huge 6,000 megawatt power plant complex in India.
Mumbai/India – Sahara India Power and Korea East-West Power Company (a subsidiary of Kepco) join forces to build a 6,000 megawatts (MW) thermo power plant complex in India. Scheduled for the next seven years, the whole complex could provide about 3.5 percent of India's current national power output.
The announcement of the $7 billion to $9 billion power project follows an earlier agreement by the two companies to construct two 660-MW, supercritical thermal power plants in Titlagarh, with an investment of $1.7 billion.
The two partner companies will also jointly participate in tariff-based bidding for other power projects in India, while aiming to cut fuel consumption, optimise heat recovery and provide the recycling of wastewater resources of power plants, officials say.
The Indian government recently approved Phase I of the project, which will be a 1,200-MW power station. About 14 percent of the projected power output has already been sold to the local industry and customers. Kepco estimates that it will take 25 years to earn its total investment. The acquisition of land is scheduled for this October with construction expected to begin in 2012.
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