MUMBAI - India's Tata Power said on Thursday it has entered into a memorandum of understanding with group firm Tata Steel to set up a 525 megawatt power plant in Netherlands.

The plant will be ready in 2013 and partly replace the existing power supply agreement with another utility, a statement from the firm said. (Reporting by Narayanan Somasundaram; Editing by John Mair)

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