GMR Energy and Malaysia’s TNM Remaco set up joint venture for O&M

GMR Energy Limited (GEL) and Malaysia-based TNB Repair and Maintenance Sdn Bhd (TNB Remaco) have signed an agreement for setting up an operations and maintenance (O&M) JV. The JV plans to set up a refurbishment facility in India. As per the three-year contract signed between the two companies, GEL and TNB Remaco will identify business opportunities in the Indian market to provide O&M services, performance improvement services, testing and diagnostic services and repair and refurbishment services to power plants. TNB Remaco is a wholly owned subsidiary of Malaysian integrated energy provider Tenaga Nasional Berhad (TNB). In November 2016, TNB completed the acquisition of 30 per cent equity stake in GEL for $300 million.