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| Tiana Power Projects signs pact with Korea Power Engineering Company |
| Announcement / Corporate Jul 20, 2010, 19:43 IST |
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Tiana Power Projects today announced its strategic alliance with the Korean government, by entering into a Memorandum of Cooperation Agreement with KOPEC (Korea Power Engineering Company). Under this agreement the Tiana Power Project is the principal promoter, developer and owner of power projects and KOPEC will bring in their technical and engineering expertise.
This is a first of its kind technological and engineering partnership between a Korean government enterprise and a Pune based Power Company to provide power at affordable prices to the people of India. The Tiana Group is currently envisaging the implementation of three power projects with a total capacity of about 4500 MW, thereby bridging the gap between the current demand and supply which is as high as 12-15 per cent during peak time. Tiana Power 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.
According to Mr Shirish Puranik, Group CEO, Tiana Power Projects, “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, endeavoring to provide power to the people of India at affordable unit rates. This is an expression of our commitment to the Indian consumer and we hope that our little gesture fills many a home with light and laughter.”
Principal activities of KOPEC include the design, engineering, construction and project implementation in various countries, with 60% share of project execution in South Korea. The 35 year old company is a subsidiary of the Korea Electrical Power Corporation, a government owned company that has executed numerous projects in power generation, transmission and distribution. Their cost effective and impressive track record and reputable client list inspired the Tiana Power to enter into this agreement.
Tiana Power Projects, India
TIANA Power Projects, India, a part of the Tiana Group, was formed to harness, develop and generate electricity by setting up power plants based on renewable energies, hydel energy and thermal energy, and transmit and distribute such power across India. Today apart from power generation, the Tiana Group is engaged in the manufacturing of diversified range of products including Leather Goods, Fashion Garments, Hosiery, Accessories, Furniture, Crockery; as well as the Shipping and Transport industry. In line with company strategies to preserve the environment and contain global warming, Tiana Power Projects, India has undertaken a Clean Development Mechanism (CDM) in wind projects and CDM projects related to Hydro energy are also in the pipeline.
KOPEC (Korea Power Engineering Company)
KOPEC (Korea Power Engineering Company, Inc.) was established in 1975 as a public enterprise to realize independence in Korea’s nuclear power design technology. The company has made remarkable progress over the past 30 years, designing, engineering, and constructing over 40 coal power plants, and has also joined the ranks of world-class nuclear power companies, by designing and building a total of 14 nuclear power plants using their own technology. KOPEC operates as a subsidiary of Korea Electric Power Corp. (KEPCO) and is capable of providing total integrated EPC Project Services to various energy industries and utilities in Korea and abroad. Korea Electric Power Corporation is the only electric utility provider in South Korea responsible for electricity generation, transmission and distribution.
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