The News Scroll 16 July 2020  Last Updated at 4:30 pm | Source: PTI

NTPC, NIIF ink pact to explore investment avenues in India

NTPC, NIIF ink pact to explore investment avenues in India
New Delhi, Jul 16 (PTI) State-owned Power giant NTPC on Thursday said it has inked a memorandum of understanding (MoU) with NIIF to explore investment opportunities in the country.

"The  NTPC Ltd today entered into an MoU with 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," the company said in a statement.

The MoU was signed in the presence of Gurdeep Singh, CMD, NTPC and Sujoy Bose, Managing Director and CEO, NIIFL, it added.

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

With this pact, 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.

With a total installed capacity of 62,110 MW, NTPC Group has 70 Power stations, comprising 24 Coal, 7 combined cycle gas/liquid fuel, 1 hydro, 13 renewables along with 25 subsidiary and joint venture power stations.

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

NIIF 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 central government.

It invests across asset classes such as infrastructure, private equity and other diversified sectors in India, with the objective to generate attractive risk-adjusted returns for its investors.

NIIF Master Fund is the largest infrastructure fund in the country and invests in core infrastructure sectors such as transportation and energy. PTI KKS BAL BAL

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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