NTPC signs MoU to form JV for renewable energy
Published on: August 05, 2008 at 15:45
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According to the MoU NTPC will hold 40% equity in the proposed JV Company while the balance will be equally shared by the other constituents.
The Chairman of the JV Company shall be nominated by NTPC Limited. The proposed JVC, over the next three years will develop greenfield and under utilized potential sites to establish and hold a portfolio of about 500 MW of renewable power generation resources in India.
The JV Company would initially develop projects in India and may consider having a regional and global outlook as a major investor and facilitator of renewable energy. Initially the JVC will primarily concentrate on wind power, mini and micro-hydro electric power.
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Looking at the growing interest in alternative fuels is expected to add more than fifty million NGVs on the world’s roads in the next ten years, believes the International Association for Natural Gas Vehicles (IANGV). Meanwhile, concerns over pollution and carbon foot print are mounting up creating a platform for natural gas vehicles (NGVs) to hold potential of capturing of as much as 9% of the world transport fleet by 2020 thereby claiming its place as a dominant fuel choice after gasoline and diesel. 
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