Triveni Engineering & Industries Ltd has signed a cooperation agreement with Beijing BEIZHONG Steam Turbine Generator Co., Ltd (BZD) to distribute and market its products comprising power plant equipment upto 330 MW, consisting of steam turbines, alternators, condensing and cooling systems along with electricals and power evacuation systems.
Triveni will also sell the remaining plant and provide after sales support. The agreement facilitates the Indian company's entry in technology transfers in the future.
This arrangement between Triveni and BZD will address the 50,000 MW market in the medium sized utility, merchant power, industrial and captive range in next five years.
BZD, a subsidiary of the state owned Beijing Jingcheng Mechanical & Electrical Holding Co., Ltd. is a technology leader and fourth largest steam turbine manufacturer in China offering power solutions upto 660 MW. The company sold more than 4000 MW of power generating equipment last year and has made inroads into Indian market with orders exceeding 1300 MW.
Triveni currently sells steam turbines upto 30 MW and holds a dominant market share within the industrial turbine market in India, with an installed base of over 2200 turbines, with an annual production capacity of 1200 MW.
The signing of this agreement between Triveni and BZD is a momentous event for our turbine business division," said Dhruv M Sawhney, chairman and managing director. "It supplements Triveni's product range to encompass the entire industrial turbine market upto 60MW, while also enabling Triveni to enter into the medium sized utility power generating equipment market upto 330MW. The power solutions offered will be efficient and highly cost effective with desired deliveries backed by excellent product support.
"With this partnership with BZD, which has vast knowledge and experience of supplying its higher range turbines worldwide, we will be an effective and formidable combination offering power solutions upto 330 MW range. The Triveni-BZD combination will differentiate itself from other imported turbine suppliers through the support of state-of-the-art infrastructure of Triveni in Bangalore which, in many ways, is unique in India and, also in the global industrial turbine market."
India's Eleventh Five Year Plan has emphasised rapid expansion of power generation. Shanghai based investment banking firm E J McKay & Co., Inc. advised Triveni on the transaction.