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NTPC, NIIF in pact to explore business opportunities in India

Thursday - July 16, 2020 6:25 pm , Category : BUSINESS
New Delhi, July 16 (IANS) India's largest power generation company, NTPC has entered into a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund (NIIF), acting through National Investment and Infrastructure Fund Ltd (NIIFL), to explore opportunities for investments in areas like renewable energy, power distribution, among other areas of mutual interest in India.
With this MoU, NTPC and NIIF aim to collaborate to further help the vision of building a sustainable and robust energy infrastructure in the country. This partnership aims to bring together NTPC's technical expertise and NIIF's ability to raise capital and bring in global best practices by leveraging its existing relationships with leading players.
With a total installed capacity of 62110 MW, NTPC Group has 70 power stations comprising of 24 coal, 7 combined cycle gas/liquid fuel, one hydro, 13 renewables along with 25 subsidiary & JV power stations.
NTPC targets to have nearly 30 GW of its overall power generation capacity from renewable energy sources by 2032.
NIIF Ltd manages over $4.3 billion of equity capital commitments across its three funds - Master Fund, Fund of Funds and Strategic Opportunities Fund, each with its distinct investment strategy. NIIFL is a collaborative investment platform for international and Indian investors, anchored by the government.
The NIIF Master Fund is the largest infrastructure fund in the country and invests in core infrastructure sectors such as transportation and energy.

--IANS sn/vd