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NTPC, ADB & Kyushu in a JV

NTPC, ADB & Kyushu entered into a joint venture to develop power project.

Nov 26, 2010 12:04 IST

State-owned power generator National Thermal Power Corporation (NTPC), Asian Development Bank (ADB) and Kyuden International Corporation (Kyushu) of Japan signed a joint venture agreement on 24 November 2010. The objective of signing this agreement was to develop renewable power project in India. The joint venture will set up 500 mw of non-conventional power generation capacity in India over a period of three years. NTPC will hold 50 per cent equity in the joint venture while the other two partners will hold 25 per cent each. The initial authorised share capital of the joint venture company would be Rs 6.5 crore and the paid-up share capital would be Rs 1 crore.