NTPC in joint venture with Kyushu Electric, ADB for clean energy projects
24 November 2010
NTPC Limited (NTPC), the country's largest power utility, has signed a joint venture agreement with Japan's Kyuden International Corporation (Kyushu) and the Asian Development Bank (ADB) to set up a joint venture for developing clean energy projects.
The joint venture company, to be set up in the national capital territory of Delhi, will develop renewable power projects with a total generating capacity of 500 MW, over a period of three years.
To begin with, the JV will develop wind power and small hydroelectric power projects and may enter development of other resources for renewable power generation. It may also look to develop projects in developing countries outside India as well.
NTPC will have a 50-per cent stake in the joint venture while ADB and Kyushu will hold 25 per cent equity each.
The joint venture will have an initial authorised share capital of Rs6.5 crore and a paid-up share capital of Rs1 crore.
NTPC has an installed capacity of over 32694 MW. The power utility operates 28 power stations and has over 16,000 MW capacity under construction across the country. NTPC expects to generate a total of 75 GW power by 2017.