Sterlite Energy Ltd, a subsidiary of the London-based Vedanta Resource Plc, has outsourced the operation and maintenance of its Rs8,200 crore independent power plant in Orissa to Evonik Energy Services India, a wholly owned subsidiary of Germany based Evonik energy Services GmbH.
The operation and maintenance (O&M) agreement for the 2,400 mw power plant at Jharsuguda in western Orissa was signed between Sterlite Energy and Evonik Energy Services on Friday. Evonik is Germany's fifth largest power company.
"Vedanta group is emerging as one of the leading players in the power sector in India and Evonik is one of the largest players in Germany. I think this will result in an excellent relationship between the companies and add lots of value in our power business," Vedanta Aluminium Ltd (VAL) director M Siddiqi said in a statement from Bhubaneshwar.
VAL comprises the aluminium operations of Vedanta Resources. Its operations are primarily based in Orissa.
Evonik Energy Services India managing director J T Verghese said, "The contract (is) a path-breaking initiative taken by Sterlite to bring in professional O&M services ... of Evonik." The statement said the contract was the largest O&M deal signed for any coal-based thermal power plant in India.
Sterlite Energy expects to commission the first unit of 600 mw by May, and it aims to open up other three utilities for commercial use within one year.