NTPC joins hands with NIIF for investing in RE, power distribution

Plans to build 30 Gw of its overall generation capacity from renewable energy by 2032. It currently has installed capacity of 62 Gw, with 80% thermal power

India’s largest power generating company NTPC has entered into a pact with the National Investment and Infrastructure Fund (NIIF) for investments in renewable energy and power distribution in India. NTPC signed a memorandum of understanding with NIIF on Thursday to “explore investments in areas like renewable energy, power distribution, among other areas of mutual interest in India”.

The firm in a public statement said the collaboration will further help India’s vision of building sustainable and robust energy infrastructure. “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,” said the statement.

NTPC is planning to build 30 gigawatt (Gw) of its overall power generation capacity from renewable energy sources by 2032. It currently has a total installed capacity of 62 Gw, with close to 80 per cent thermal power. 

The company also plans to enter power distribution in states and Union Territories. It already has a venture for captive coal mining.

NIIF is a collaborative investment platform for international and Indian investors, anchored by the Government of India, and currently manages $4.3 billion of equity capital commitments across its three funds, each with a distinct investment strategy.