Reliance Power to utilize Shanghai Electric products

Reliance Power Limited has placed an order for 30,000 megawatt capacity of boiler, turbine, generator packages with theShanghai Electric Group Company. It will be used for its coal based power plants.

Reliance Power and SEC have signed memorandum of understanding to cover the financing with leading Chinese Banks such as Bank of China, China Development Bank, the Export-Import Bank of China and Industrial and Commercial Bank of China. The agreement with the Chinese banks allows Reliance Power to get financing for importing Chinese equipment for up to $12 billion.

"This order, possibly the largest ever in the world in power generation sector, includes supply of 42 units of 660 MW each using environmentally friendly, super-critical technology for Reliance Power's projects at various locations in India," the company said in a statement.

The companies said that they will set up a 'centre of excellence' and training facility for those working in power plants and a manufacturing unit in India.

"The strategic cooperation between Reliance Power and leading global supplier like SEC will enable faster project execution of our projects. SEC's after sales support will ensure higher availability and assured maintanance support through the operating life of the our projects," said J P Chalsani, CEO of Reliance Power.
The project will be completed over the next three years.