State-run power generator NTPC and the National Investment and Infrastructure Fund (NIIF) will now jointly explore business opportunities in India.
NIIF will be acting through National Investment and Infrastructure Fund Ltd (NIIFL) to explore opportunities for investments in areas of mutual interest with NTPC, such as renewable energy and power distribution.
A Memorandum of Understanding (MoU) for the same was signed on Thursday.
The partnership aims to bring together NTPC’s technical expertise and NIIF’s ability to raise capital, and bring in global best practices by leveraging existing relationships with leading players, said an NTPC statement.
NTPC group has a total installed capacity of 62,110 MW. It targets to have nearly 30 GW of its overall power generation capacity from renewable energy sources by 2032.
NIIFL manages over $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. It is a collaborative investment platform for international and Indian investors, anchored by the Central government.
NIIFL invests across asset classes such as infrastructure, private equity and other diversified sectors in India, with the objective of generating attractive, risk-adjusted returns for its investors. The NIIF Master Fund is the largest infrastructure fund in the country and invests in core infrastructure sectors such as transportation and energy, the statement added.