NTPC signs MoU with NIIF -THE HINDU-18-07-2020

Context:NTPC signs MoU with NIIF to Explore Business Opportunities in Renewable Energy in India.

Details:

*NTPC Ltd has recently entered into a Memorandum of Understanding (MoU) with National Investment and Infrastructure Fund (NIIF), acting through National Investment and Infrastructure Fund Limited (NIIFL), to explore opportunities for investments in areas like renewable energy, power distribution among other areas of mutual interest in India.

*The MoU was signed through video conferencing between Sangeeta Kaushik, GM (BD-Domestic), NTPC and Rajiv Dhar, Executive Director and Chief Operating Officer, NIIFL.

Purpose of the collaboration:

*To support India in achieving its vision of building sustainable and robust energy infrastructure in India.

*NTPC targets to have nearly 30 GW of its overall power generation capacity from renewable energy sources by 2032.

Power capacity of NTPC:

*They have 70 power stations which includes 24 Coal, 7 combined Gas or Liquid Fuel, 1 Hydro and 13 Renewables along with 25 Subsidiary and Joint venture stations.

*installed capacity of NTPC is 62110 Mega Watt(MW).

NIIFL:

*NIIF Limited manages over USD 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 of India.

*The NIIF Master Fund is the largest infrastructure fund in the country and invests in core infrastructure sectors such as transportation and energy.