State-run electricity major Damodar Valley Corporation (DVC) and Tata Power Company (TPCL), the country’s largest private power utility, signed an agreement today to jointly explore options for capacity augmentation, coal mining and setting up a research and development (R&D) facility.
The MoU, the first of its kind between a public and private entity, “is comprehensive, covering all the crucial aspects,” said Jairam Ramesh, Union minister of state for power and commerce.
TPCL has a 1,050-MW JV thermal power project with DVC named Maithon Power (MPL), in which the Tatas hold 76 per cent stake. “As TPCL already had a JV with DVC, it was good for both organisations to proceed with this MoU to utilise strengths and resources jointly,” said DVC Chairman Asim Kumar Burman.
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