India’s largest power generation company NTPC Ltd has entered a pact with the National Investment and Infrastructure Fund (NIIF) to explore business opportunities in areas like renewable energy, power distribution among other areas of mutual interest in India.
NTPC aims to derive nearly 30 GW of its overall power generation capacity from renewable energy sources by 2032. With this MoU, NTPC and NIIF aim to collaborate to further help India’s vision of building sustainable and robust energy infrastructure in the country.
The 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 62,110 MW, NTPC group has 70 power stations comprising 24 coal-based units, seven combined cycle gas/liquid fuel stations, one hydro, 13 renewables, along with 25 subsidiary & joint venture entities.
NIIF manages over $4.3 billion of equity capital commitments across its three funds–Master Fund, Fund of Funds, and Strategic Opportunities Fund–each with a distinct investment strategy. It is a collaborative investment platform for international and Indian investors, anchored by the government of India, with investments across asset classes such as infrastructure, private equity and other diversified sectors in India. The objective to generate attractive risk-adjusted returns for its investors. The NIIF Master Fund is the largest infrastructure fund in the country and invests in core infrastructure sectors such as transportation and energy.