Coinciding with Prime Minister Narendra Modi’s visit to Russia, Tata Power Company has entered in a memorandum of understanding with the Ministry of Development of Russian Far East in an effort to explore and develop investment opportunities in the energy sector.
The company said in a BSE statement: “The MoU reflects the mutual intentions of the parties to cooperate for the purpose of realisation of investment projects in the energy sector across the Russian Far East.”
Under the MoU, the Russian ministry will cooperate with Tata Power for all stages of investment projects, the statement said.
“The MoU was signed in Moscow by Ashok Sethi, COO of Tata Power, and Alexander Galushka, Minister for Development of Russian Far East,” it added.
Tata Power is already developing a power project in Georgia with a local utility.