NTPC, NIIF sign pact to invest in renewable energy

MUMBAI: India’s largest power generation company NTPC Ltd on Thursday said it 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, the release said.

“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 press release said. “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.”