GMR Energy signs MoU with Malaysia's Remaco

NEW DELHI: GMR Energy, a subsidiary of GMR to collaborate and set up an O&M joint venture.

TNB Remaco is the repair and maintenance arm of Tenaga Nasional Berhad (TNB).

TNB recently invested $300 mn (Rs 2,000 Cr) in GMR Energy Limited to take up a 30% equity stake in select portfolio of GEL assets on fully diluted basis.

The O&M JV between GMR Energy and TNB Remaco will provide operation and maintenance services, performance improvement services, testing and diagnostic services, repair and refurbishment services for power plants in India. For this purpose, the JV plans to setup a refurbishment/ maintenance facility in India.