Tata Power, Norwegian firm sign pact on hydropower projects
New Delhi |Friday, 2009 4:05:08 PM IST
 

Tata Power Friday said it has signed an agreement with Norwegian renewable energy company SN Power to jointly develop hydropower projects in India and Nepal.

This is the first time that the Tata group firm has entered into a partnership with a hydropower company.

"Together, the joint venture aims to add 2,000 MW by 2015, and a total of 4,000 MW by 2020," the company said in a regulatory statement.

Both companies have begun pursuing potential renewable energy project opportunities in the Himalayas.

"SN Power provides valuable hydropower experience from Norway as well as from key projects in emerging markets, including India and Nepal," said Banmali Agarawala, Tata Power's executive director of strategy and business development.

Added Oiatein Andresen, SN Power's president and chief executive: "The partnership allows us to combine our extensive hydropower competence with their large scale industrial experience."

--Indo-Asian news Service

ash/ank/mj

( 157 Words)

2009-10-30-14:42:15 (IANS)

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