Shanghai Electric Group has executed two agreements with CESC for the development of new power projects in India.

The first contract is for the formation of a joint venture to develop large-scale power plants and wind power projects in India.

Under the second contract signed with Halida Energy, a subsidiary of CESC, the company will supply boilers, turbines and generators for the 600MW Haldia thermal power project worth Rs10bn ($206.8m).

The Halida thermal power project is expected to be commissioned by mid 2014.

Shanghai Electric vice-president Zhu Denian said the company was also planning to set up a manufacturing subsidiary in India and was looking for an Indian joint venture company.