Tiana signs pact with Korean power company
Tiana Power Projects has entered into a strategic alliance with Korean government to get technical assistance for its power projects in India.
The Pune-based company has recently signed a Memorandum of Cooperation Agreement with the Korea Power Engineering Company (KOPEC), a Korean government enterprise, in which Tiana will be principal promoter, developer and owner of power projects whereas KOPEC will bring in their technical and engineering expertise.
The Tiana Group is currently envisaging the implementation of three power projects in Maharashtra, Andhra Pradesh and Kerala with a total capacity of about 4500 MW.
The company said this is a first of its kind technological and engineering partnership with a Korean government enterprise to provide power at affordable prices to the people of India. “We support the Planning Commission and Power Ministry motto: Power for all by 2012. It is in light of this motto that we have initiated this strategic tie-up with KOPEC, endeavouring to provide power to the people of India at affordable unit rates,” said, Shirish Puranik, Group CEO, Tiana Power Projects.
The company has also successfully entered into GSA (Gas Supply Agreement) with Bharat Petroleum (BPCL) for supplying Gas to some of the Gas Based Power Projects in Kerala.
A subsidiary of Korea Electrical Power Corporation, KOPEC has got expertise in designing, engineering, construction and project implementation in various countries. With 60% share of project execution in South Korea, the company has executed numerous projects in power generation, transmission and distribution.