New Delhi: Manikaran Power Ltd today announced it has signed a Memorandum of Understanding (MoU) with South Korean KEPCO KPS to acquire and operate stressed power plants in India. "Both the companies have agreed to contribute their respective skills, resources and know–how towards acquiring and reviving stressed assets in the power sector," the companies said in a joint statement.KEPCO KPS provides Operation & Maintenance (O&M) services of thermal, nuclear and hydro energy projects with an existing portfolio of 52,000 Megawatt in Korea and an overseas O&M portfolio of about 6,000 MW.The firm also provides commissioning & overhauling services, power plant diagnosis, lifetime management and performance enhancing services to energy facilities globally. Manikaran Power Ltd is a power solutions provider with a Category I power trading license in India. It has diversified into analytics with a focus on Forecasting & Scheduling services for wind & solar plants apart from Solar EPC and trading of coal and gas. MPL traded over 9 Billion Units of power over different platforms last financial year.

Source: Economic Times August 24, 2020 05:59 UTC