KEPCO KPS, Manikaran Power Ink MoU to Acquire, Operate Stressed Power Plants

Korean company KEPCO Plant Service and Engineering Co. Ltd. (KEPCO KPS) has recently entered into a Memorandum of Understanding (MoU) with Manikaran Power Ltd (MPL) to acquire and operate stressed power plants in India.

August 24, 2020. By Manu Tayal

Korean company KEPCO Plant Service and Engineering Co. Ltd. (KEPCO KPS) has recently entered into a Memorandum of Understanding (MoU) with Manikaran Power Ltd (MPL) to acquire and operate stressed power plants in India.

As per the MoU signed, the two companies have agreed to contribute their respective skills, resources and know–how towards acquiring and reviving stressed assets in the power sector.

This understanding will create a strong combination of two capable groups coming together and reviving stressed power assets in India, as both companies are pioneers in their areas of expertise.

Commenting on the development, Jasmeet Singh Kalsi, Director of Manikaran Power Ltd said that “the partnership will work on the concept of acquire, revive, add value, and operate to contribute in Nation building.”

MPL is one of the leading power solutions companies having Category I power trading license in India. It has shown consistent performance and has also diversified into other power domain segments, such as Analytics (focus on forecasting & scheduling services for wind & solar plants), solar engineering, procurement & construction (EPC), coal & gas trading etc.

During the previous financial year, the company has traded over 9 Billion Units of power over different platforms. It has an all India presence via its offices spread across all the major cities of India.

Meanwhile, KEPCO KPS specialized in reliable high quality Operation & Maintenance (O&M) services of thermal, nuclear and hydro energy facilities with an existing portfolio of over 52 GW in Korea. It has an overseas portfolio of O&M services of about 6 GW. This is in addition to the commissioning & overhauling services, power plant diagnosis, lifetime management and performance enhancing services to energy facilities across the world.

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