Tata Power signs MoU with Siberian Coal Energy Company
23 Feb 2015
Private sector power utility Tata Power, has signed a memorandum of understanding (MoU) with Siberian Coal Energy Company (SUEK), Russia's largest coal producer, to tap opportunities in the energy sector.
As part of the agreement, both Tata Power and SUEK will identify opportunities in the energy sector in Russia and other geographies of common interest, in order to develop mutually beneficial businesses.
Speaking on the development, Tata Power spokesperson stated that "It gives us immense pride to announce our association with Siberian Coal Energy Company. SUEK is known to be reliable and world class player in the mining business and Tata Power looks forward to working with them on identifying opportunities across the energy chain. The signing of this MoU is a major milestone for Tata Power and we endeavour to be a significant player in the international energy market."
Tata Power generates about 8,621 MW of power of which 7,407 MW is from thermal power generation.
According to information on SUEK web site, the company delivers coal to more than 30 countries all over the world.
Tata Power is India's largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 8621 MW in India and a presence in all the segments of the power sector, viz, fuel security and logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading.
It is also one of the largest renewable energy players in India.
Its international presence includes strategic investments in Indonesia through a 30-per cent stake in the leading coal company PT Kaltim Prima Coal (KPC); 26-per cent stake in mines at PT Baramulti Suksessarana Tbk and a geothermal project besides strategic investments in Singapore through Trust Energy Resources, in South Africa; through a joint venture called 'Cennergi' to develop projects, in Botswana and Namibia; and in Australia through investments in enhanced geothermal and clean coal technologies. It also has a presence in Bhutan.