Indian state run NTPC has signed an MoU with the global energy giant EDF to explore potential power project development prospects overseas and also collaborate on research and development, technical services, and consultancy assignments on a global scale. The primary markets of interest for the companies are Europe, Asia, the Middle East and Africa. This partnership will help NTPC in expanding its portfolio of power generation assets globally and support the development of clean energy projects worldwide.
Recently, National Thermal Power Corporation Renewable Energy limited ( NTPC REL) a fully-owned subsidiary of NTPC, has signed its first green term loan agreement for Rs 5 billion. The loan agreement is at a competitive rate with a tenure of 15 years with the Bank of India for its 470 MW solar projects in Rajasthan and 200 MW in Gujarat. NTPC REL currently has a renewable project portfolio of 3,450 MW, of which 820 MW are under construction and 2,630 MW have been awarded but PPAs have yet to be signed.
In September 2021, EDF Renewables North America (EDFR) and MEAG entered into a strategic partnership under which a subsidiary of Munich Re would acquire a 50 per cent stake in two renewable energy projects in California. The two projects include the Maverick 6 Solar-plus-Storage Project and the Maverick 7 Solar Project. The former has a capacity of 131 MW coupled with a 50 MW/200 MWh battery energy storage system, while the latter has a capacity of 179 MW. Both the projects primarily use horizontal single-axis tracking technology. The projects are located in Riverside County within a Solar Energy Zone and Development Focus Area, managed by the U.S. Bureau of Land Management. The projects are expected to be operational by December 2021.