NTPC ties with NIIF to explore opportunities in renewable energy, power distribution biz in India

On Sensex, NTPC stock ended at Rs86.75 per piece down by 1.42%.

Jul 16, 2020 04:07 IST India Infoline News Service

NTPC
The state-owned NTPC on Thursday entered a Memorandum of Understanding (MoU) with National Investment and Infrastructure Fund (NIIF) for exploring opportunities for investments in areas like renewable energy, power distribution among other areas of mutual interest in India. In this MoU, NIIF will be acting through the National Investment and Infrastructure Fund Limited (NIIFL).

Through this MoU, NTPC and NIIF aim to collaborate to further help India’s vision of building 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.

NTPC in its filing stated that the company targets to have nearly 30 GW of its overall power generation capacity from renewable energy sources by 2032.

According to the regulatory filing, with a total installed capacity of 62110 MW, NTPC Group has 70 Power stations comprising of 24 Coal, 7 combined cycle Gas/Liquid Fuel, 1 Hydro, 13 Renewables along with 25 Subsidiary & JV Power Stations.

On Sensex, NTPC stock ended at Rs86.75 per piece down by 1.42%. The stock has touched an intraday high and low of Rs88.40 per piece and Rs85.90 per piece respectively. 

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