Public sector power generation company NTPC in its official communication has announced that it will enter into renewable power generation through a joint venture (JV) with foreign power and financial firms. According to the company source, the JV Company will primarily focus on wind energy, mini and micro hydro-electric power.

 

Evidently, NTPC will have 40 percent of the shares in the joint venture. In this joint venture other players are Asian Development Bank (ADB), GE Energy Financial Services, Japan-based Kysushu Electric Power Co and Brookfield Renewable Power of the US. And, also, these companies would be having rest of the shares in the new JV.

 

NTPC is vested with right to nominate the chairman of the JV. To meet its target of 500 MW of renewable power generation in the next three years, the new company will set up a greenfield. Also, there will be a developmental program of under-utilized projects under JV. Recently, all five parties signed an MOU in this regard.