Business | Construction
Taqa and Tata in talks to build India power plant
Abu Dhabi National Energy Co (Taqa) said it is in talks with India's Tata Group about developing a power plant in India, part of plans to boost its generating capacity in the country more than 30-fold.
- Agencies
- Published: 14:23 April 17, 2008
Abu Dhabi: Abu Dhabi National Energy Co (Taqa) said it is in talks with India's Tata Group about developing a power plant in India, part of plans to boost its generating capacity in the country more than 30-fold.
Taqa is also looking to develop three power and water stations in Saudi Arabia, in a venture with privately owned Al Zamil Group, chief executive Peter Barker-Homek said.
"We should finalise soon with India's Tata Group to build a power plant in India in a joint venture where Taqa would take a stake," Barker-Homek said, without being more specific.
Tata Group owns a stake in Tata Power, an electricity-generating plant developer.
Taqa aims to boost its power-generating capacity in India to 8,000 megawatts during the next three to five years, Barker-Homek said, as demand in the world's second-most populous nation grows.
Taqa operates a 250 MW plant in the south Indian city of Chennai, whose capacity can be doubled, Barker-Homek said. Construction of a 750 MW plant in the northeastern Indian state of Tripura will start soon, he said, without being more specific. "We are now focused on India, Europe and North America... a lot of opportunities are coming there," he said.
On Saudi Arabia, he said: "We are looking at three projects right now across the economic cities in Saudi Arabia with Saudi's Al Zamil Group. You will hear from us on that in 2008."
Last year, Taqa agreed to buy $900 million of assets from US utility CMS Energy, that included ST CMS in India.
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