Reliance Power, a unit of India-based Reliance Group, has signed a partnership agreement with China Datang to develop and operate power plants in India and overseas.
A memorandum of understanding was signed by the two firms to explore possibilities of joint investment in Indian and overseas power and coal mining projects.
The joint venture is expected to particularly target coal-based power projects built with Chinese equipment.
In the initial stages, China Datang will assist Reliance in commissioning projects including a 4,000MW power project in the state of Madhya Pradesh.
China Datang is likely to be represented by its wholly-owned subsidiary China Datang Overseas Investment Company.
Commenting on the development, Reliance Power said in a statement, "This is an important milestone in
our progress towards becoming India’s largest private sector integrated power and resources company. We will benefit from this partnership in being able to draw from CDTO’s vast talent pool of experienced O&M resources.
"We will also be able to deploy best operating practices for equipment sourced from China and other global suppliers. The two
companies share the vision of creating intrinsic value for all stakeholders, including customers, employees and shareholders through long-term relationships," the company added.
Image: The joint venture is expected to particularly target coal-based power projects. Credit: Wight94 talk