Wednesday, February 21, 2007

Kyushu Electric To Exchange Info with India Power Firm

It was reported by Dow Jones newswire service that Kyushu Electric Power Co & NTPC of India decided to work on a "collaboration basis" initially. Insatiable demand for power in India combined with a desire to expand within India could be two driving factors for this agreement. Watchout for many more such interesting developments as the two Asian giants increasingly find areas of mutual collaboration! In a typical Japanese manner, this deal was concluded almost 2 years after the first discussion.

NEW YORK (Dow Jones)--Kyushu Electric Power Co. (9508.TO) said Monday it has signed an agreement with National Thermal Power Corp. of India to promote information and other exchanges, Kyodo News reported Monday.

As the first Japanese electric power company to conclude such an accord with an Indian power supplier, Kyushu Electric hopes to grab future business opportunities in India where the supply of electricity has been increasing around 4% a year as a result of the nation's rapid economic growth, Kyodo said.

Kyushu Electric said it will initially promote exchange of information on power generation and environmental issues, Kyodo reported.

NTPC is India's largest electric power company, accounting for 28% of power generation in the country, Kyodo said, according to Kyushu Electric. Owned some 90% by the Indian government, NTPC engages mainly in thermal power generation and has no nuclear plants, Kyodo said.

In fiscal 2005, NTPC chalked up operating revenues equivalent to Y868.3 billion. It has a workforce of around 21,000 and operates 20 power plants, according to Kyodo.
Kyushu Electric proposed the deal to NTPC in October 2005, Kyodo reported

No comments: