Sahara Power, Korean co to set up 6,000 MW plants

NEW DELHI: Sahara India Power Corporation on Wednesday announced a partnership with Korea East-West Power Co, a Korean government company, to set up power plants with combined capacity of up to 6,000 mega watt.
The agreement signed between the two companies allows them to jointly participate in tariff-based bidding for ultra-mega power projects (UMPPs) and other opportunities in India.An UMPP has a capacity to generate 4,000 MW of electricity. The deal, announced on Wednesday, is an extension of an earlier tieup between Sahara India Power and Korea East-West for setting up a 1,320MW power plant in Titlagarh, involving an investment of around Rs 8,000 crore.
Though Sahara did not comment on how much investment is proposed under the deal, the cost of setting up 6,000 MW capacity would be at least Rs 24,000 crore.
"The association will bring in world class high end technological advancements in power generation and the establishment of 6,000 MW of power plants through mega and ultramega projects will help in reducing the power deficit of our nation," Sahara India Power CEO Ashok Bhargava said.