Tata Power inks exclusive JV pact with SN Power

Tata Power inks exclusive JV pact with SN Power

Tata Power Company (TPC), India’s largest private power utility, has signed an exclusive joint venture agreement with SN Power, a Norwegian power company to jointly develop 2,000 MW of projects in India and Nepal under construction or in operation by 2015 and a total of 4,000 Mw by 2020.

Sources reported that the proposed project entails an investment of about Rs 15,000 crore, if calculated at a rate of Rs 5-8 crore per Mw of power generation.

Besides the latest alliance, Tata Power and SN Power are also looking at co-developing the Tamakoshi-3 project in Nepal, to which SN Power holds license rights.

According to a company official, who did not want to be identified, each joint project, most yet to be finalized, will be developed through a Special Purpose Vehicle (SPV) structure.

The joint venture plans to raise funds from international lenders such as International Finance Corporation.

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