NTPC, Africa50 tie up to develop power projects across Africa

State-run NTPC has tied up with infrastructure investment platform Africa50 to identify, assess and develop commercially viable power projects across Africa, as India’s largest power utility looks to expand its international footprint and tap opportunities in generation and cross-border electricity trade. Under the pact, NTPC will assess project feasibility and develop technical solutions, while Africa50 will identify priority projects, structure them for investment and support their development. The partnership will also explore opportunities for cross-border electricity trade between African countries. ALSO READEssar expands CBM footprint with 5 blocks, adds 1,281 sq km acreage The agreement brings together NTPC’s capabilities in engineering, project development, construction and operations with Africa50’s project-financing expertise and relationships with governments across the continent. The companies, however, have not specified the countries where projects will be developed, the investment envisaged or implementation timelines. Projects will be taken up in mutually agreed countries. “Combining NTPC's technical and operational experience with Africa50's project development capabilities and relationships across the continent creates a strong foundation for supporting reliable power supply and regional electricity trade,” NTPC Chairman and Managing Director Gurdeep Singh said. The partnership comes as NTPC steps up its capacity expansion plans. The company currently has an installed capacity of more than 91.5 GW across conventional and renewable energy and aims to increase this to 149 GW by 2032, including 60 GW of renewable energy capacity. It is also expanding across energy storage, power trading and consultancy. ALSO READChina’s non-tariff barriers biggest hurdle to bilateral trade: FM Africa50 Group Chief Executive Officer Alain Ebobisse said the partnership would aim to translate public-sector ambitions into investment-ready power projects, while supporting industrial growth, regional trade and employment. Africa50 invests in infrastructure projects across the continent and has 39 shareholders, including 34 African countries, the African Development Bank and other financial institutions. The pact gives NTPC a platform to pursue generation opportunities beyond India while combining project execution capabilities with Africa50’s financing and local institutional network.

NTPC, Africa50 tie up to develop power projects across Africa

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