New Delhi: NTPC, a Government of India undertaking, and Moroccan Agency for Sustainable Energy, has signed an MoU for cooperation in the renewable energy sector during the 17th CII EXIM conclave on India-Africa growth partnership held in New Delhi from 19th - 20th July, 2022. The conclave witnessed huge participation from several African countries and deliberations were held to promote investment and collaboration between Indian and African companies in various sectors in Africa.
The MoU was signed in the presence of Mohamed Maliki, Ambassador of Morocco to the Republic of India, and Puneet Kundal, Joint Secretary, Ministry of External Affairs, Government of India. The MoU was signed by Rachid Bayed, Executive Director of Operations and Acting Director of Development, Masen ASEN, Morocco, and Narinder Mohan Gupta, Chief General Manager and Head of International Business from NTPC Limited, India.
The CII- EXIM Bank Conclave on India-Africa Project Partnership was launched in the year 2005 with the support of the Ministry of External Affairs and the Ministry of Commerce and Industry, Government of India. Over the last sixteen editions, the conclave has played a pivotal role in encouraging Indian companies to establish and grow their footprints in Africa.
The MoU between NTPC and Masen, which are pioneers in the field of renewable energy generation, promises to usher in the joint development of utility-scale projects based on renewable energy in Africa. Through this cooperation, it is intended to support services for capacity building, share experience, know-how, and expertise in the areas of mutual interest, especially in the field of Research and Development.
NTPC is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India. Since then it has established itself as the dominant power major with a presence in the entire value chain of the power generation business. From fossil fuels, it has forayed into generating electricity via hydro, nuclear, and renewable energy sources. This foray will play a major role in lowering its carbon footprint by reducing greenhouse gas emissions. /BI/
