Reliance Power today said it has signed an agreement with China Datang Corporation for a strategic partnership to develop and operate power and energy projects both here as well as overseas, making it the first partnership between the two countries in the power sector.
The agreement is with China Datang Overseas Investment Company (CDTO), a wholly-owned subsidiary of China Datang Corporation (CDT).
The partnership envisages cooperation in Reliance Power's three coal mines in South Sumatra, Indonesia to develop coal mines, including investments; to develop transportation infrastructure for these mines apart from off-taking coal from these mines.
Under the agreement CDTO will also provide operations and maintenance (O&M) services to RPower plants in the country and other identified markets.
Reliance Power said, "This is an important milestone in our move towards becoming the country's largest private sector integrated power and resources company.
"This will help us draw from CDTO's vast talent pool of experienced O&M resources. We will also be able to deploy best operating practices for equipment sourced from China and other global suppliers."
China Datang said, "The partnership with RPower provides us a platform to expand our footprints in emerging markets like India and Indonesia, which hold enormous business opportunities for us."
Reliance Power has the largest portfolio of projects in the private sector based on coal, gas, hydro and renewable energy, operating 1,540 mw.
The company also claims to have the largest domestic captive coal reserves in the private sector, estimated at over two billion tonne, apart from three coal mines in Indonesia.
A Fortune 500 company with assets over $83 billion, CDT has a generating capacity of 1,05,896 mw which is more than 50% of India's total generation, and is one of the large-scale power generation groups in China.