Tata Power Company and Korea East West Power Company (EWP), one of the largest generation utilities of Korea, have signed a Memorandum of Understanding (MoU) to identify and execute operation and maintenance (O&M) opportunities relating to third party generation assets in Asia, Middle East and Africa, the company said in a filing.
Under the MoU, Tata Power and EWP have initiated a technical cooperation in the field of O&M of the generation assets. The technical cooperation shall cover exchange of information, best practices and exchange of personnel relating to the O&M of generation assets.
Tata Power's brand image and reach in the Indian and international markets and EWP's rich experience in operations of ultra super - critical and CFBC units, development and implementation of plant operation and maintenance management system (POMMS) and benchmarking of best practices, put together will enable both the entities to expand their businesses in the Indian, Korean and other targeted markets.
"The MoU will enable exchange of technical cooperation with Korea East West Power Company. Apart from the domestic market, we aim to explore and extend our partnership in widening our operation and maintenance portfolio in the Asian market and look forward to the association," said Tata Power Managing Director Prasad Menon said.
Tata Power Services Group is a new business initiative wherein the company is currently offering O&M, project management and other related services to domestic clients and aims to further expand this business in the domestic as well as overseas markets.
Under this business initiative, the first contract inked is with OPG Power Generation (OPG). Tata Power will provide O&M services for its 1X80 Mw of coal based thermal power plant situated at Gummidipoondi, Chennai city which is scheduled to be commissioned shortly.
