Sahara India Power Corp today said the company along with South Korean entity Korea East-West Power Co would set up power plants with a total capacity of 6,000 MW in the country.
Sahara India Power is part of the diversified Sahara group.
Both Sahara India Power and Korea East-West Power have entered into a pact for developing power plants, with a total capacity of 6,000 MW.
They would jointly participate in tariff-based bidding for Ultra Mega Power Projects (UMPPs) and also look at other opportunities in India.
The proposed 6,000-MW plants would include setting up of a 1,320 MW power Plant in Titlagarh, Orissa. This plant, based on supercritical technology, would be developed with an investment of about Rs 8,000 crore, Sahara India Power said in a statement.
"We are delighted to partner with Korea East-West Power Co, in setting up 6,000 MW power projects in India. The association will bring in world class high end technological advancements in power generation...," Sahara India Power CEO Ashok Bhargava said.
Korea East-West Power Co President and CEO Lee Gil-Gu said the company is happy to associate with Sahara India Power and would also bring its international expertise in power generation.
The entity is one of the five power producers spun off from Korea Electric Power Corp (KEPCO).
Indian power sector is expected to see a capacity addition of over 80,000 MW during the 12th plan period (2012-17), with significant contribution from private players.