Tata Power signs development agreement with SPV

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Tata Power signs development agreement with SPV

Tata Power signs development agreement with Siemens Project Ventures GmbH.

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Tata Power signs development agreement with Siemens Project Ventures GmbH to jointly participate in the tariff based bidding for the ultra mega power projects

The Tata Power Company Ltd. (TPC), India's largest private power company, announced the signing of a Development Agreement with Siemens Project Ventures GmbH (SPV), Germany, a 100% subsidiary of Siemens AG's financial services Group (Siemens Financial Services), to jointly participate in the tariff based bidding process for selecting developers for the Sasan and Mundra projects under the Ultra Mega Power Projects initiative. Pursuant to signing of the Development Agreement, the two parties will co-operate in the development and implementation of the above mentioned projects.

Tata Power had recently announced the signing of an agreement with international players-Siemens Power Generation, Germany and Doosan Heavy Industries & Construction Co. Ltd., Korea to form a formidable EPC consortium for the design and construction of power plants based on super critical technology required for such large sized units, forming the technical basis of Tata Power's bids for the Ultra Mega Power Projects at Sasan in Madhya Pradesh and Mundra in Gujarat.

The Government of India has announced the implementation of several Ultra Mega Power Projects through an International Competitive Bidding process. Tata Power has recently qualified for the Ultra Mega Power Projects at Sasan and Mundra. 

Sourced From : Vaishnavi Corporate Communications