Hinduja Energy India, a subsidiary of Hinduja Group, on 29 March 2012, formed a joint venture with Steag Energy Services (India) for operation and maintenance of power projects.
The joint venture will look into the operation of the Visakhapatnam plant of Hinduja National Power Corporation Ltd (HNPCL). The 1040-MW coal-based plant is expected to be commissioned in 2013. The venture will also look into the operation and maintenance of new power projects.
The Hinduja Group plans to build 10000 MW of generating assets over 7-8 years at an investment of 12-14 billion dollar.
Steag Energy is a subsidiary of German power giant Steag GmbH and is the fifth largest electricity producer in Germany. It operates 11 power plants. Its total installed capacity is about 9400 MW worldwide, including 7700 MW in Germany.
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