Sahara India Power Corporation collaborates with Korea East-West Power Company to set up 6000 MW of Mega and Ultra Mega Power Plants in India
New Delhi, August 17, 2011: Sahara India Power Corporation Ltd. in association with Korea East-West Power Co., Ltd., a Government of Korea undertaking, will be setting up 6000 MW of power plants through mega projects in India. Mr. Ashok Bhargava, C.E.O., Sahara India Power Corporation Ltd. and Mr. Lee, Gil Gu, President & C.E.O., Korea East-West Power Co., Ltd. have signed a Memorandum of Agreement (MOA). The companies have entered into an agreement to jointly participate in tariff based bidding for Ultra mega Power Projects (UMPPs) and other opportunities in India to add upto a total capacity of 6000 MW. This is a further extension of an earlier tie-up between Sahara India Power Corporation Ltd. and Korea East-West Co. Ltd for setting up of 2X 660 MW (1320MW) Power Plant in Titlagarh based on Supercritical Technology, with investment of approx. Rs. 8000 Crores. In this context, a delegation led by Mr. Lee, Gil Gu, President & C.E.O., Korea East-West Power Co. Ltd. has come to India.
Sahara India Power Corporation and Korea East West Company are bringing to India new and innovative thermal power generation technologies. This can be achieved by optimizing the resources in terms of fuel consumption, heat recovery and waste water resources, recycling. They will explore possibility of integrating power generation modes i.e., Thermal, Hydro, Solar at one location etc. Environmentally the emission levels are expected to be lower than present Indian conditions. Their advisors and experts are working together to evolve innovative models by following these principles to suit Indian condition for environmentally friendly technology for thermal power generation.
Speaking on the occasion, Mr. Ashok Bhargava, C.E.O., Sahara India Power Corporation Ltd. said, “We are delighted to partner with Korea East - West Power Co., Ltd. in setting up 6,000 MW power projects in India. The association will bring in World class high end technological advancements in power generation and the establishment of 6000 MW of Power Plants through Mega and Ultra Mega Projects will help in reducing the power deficit of our nation. We hope that with this we will be able to contribute in the development of the nation.”
Mr. Lee, Gil Gu, President & C.E.O., Korea East-West Power Co. Ltd. said, “We are happy to associate with Sahara India Power Corporation Ltd. and bring in our international expertise in power generation. India is an important country for us as it is one of the emerging powers of the world and with Sahara India Power as our partner we are confident that our projects will serve the energy requirement in the all round integrated further development of India.”
Besides, as part of their visit, Mr. Lee, Gil Gu along with Mr. Ashok Bhargava had also met Union Ministers of India Government including Hon’ble Minister of Power, Shri Sushil Kumar Shinde ji; Hon’ble Minister of Coal, Shri Sriprakash Jaiswal ji, Shri I. S. Jha Ji, Director (Projects), Power Grid Corporation of India, and Shri T.N. Thakur, Chairman & Managing Director, PTC India Ltd.
About Sahara India Power Corporation Ltd
Sahara India Power Corporation Ltd. is Sahara India Pariwar’s initial venture into power sector. The company has a vision to be an energy efficient major in generation, transmission & distribution of power and development of green energy infrastructure globally.
About Korea East-West Power Co. Ltd
Korea East-West Power Co., Ltd. is a power generation company. It is one of the five power producers spun off from Korea Electric Power Corporation (KEPCO). The company generates electrical power from 6 power plants with total installed capacity of 9,509 MW.
Mr. Ashok Bhargava, C.E.O., Sahara India Power Corporation Ltd. and Mr. Lee, Gil Gu, President & C.E.O., Korea East-West Power Co. Ltd. at the signing of Memorandum of Agreement ceremony at New Delhi