NTPC inks MOU with Moroccan Agency for Sustainable Energy for cooperation in Renewable Energy at 17th CII EXIM conclave
NTPC and Masen (Moroccan Agency for Sustainable Energy) today 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 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 & 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 was signed in the presence of HEM Mohamed
Maliki, Ambassador of His Majesty the King of Morocco to the Republic of India,
and Mr. Puneet Kundal, Joint Secretary, Ministry of External Affairs,
Government of India.
The MOU was signed by Mr. Rachid Bayed,
Executive Director of Operations and Acting Director of Development, MasenASEN,
Morocco, and Mr. Narinder Mohan Gupta, Chief General Manager and Head of
International Business from NTPC Limited, India.
The MOU signing function was part of the session
titled “Collaboration for Energy Security and Harnessing Alternative Sources”.
The session featured H.E. Mr. Abdoulle Jobe, Minister of Petroleum and Energy,
Republic of The Gambia, H.E. Mr. Ajay Mathur, Director General, International
Solar Alliance, and Mr. Puneet Kundal, Joint Secretary, Ministry of External
Affairs, Government of India apart from NTPC and Masen representatives viz. Mr.
Rachid Bayed and Mr. Narinder Mohan Gupta. Dr. Pradeep Singh Rajpurohit, Joint
Secretary (West Asia & North Africa), Ministry of External Affairs,
Government of India also attended the session.
The
MOU between NTPC Ltd. 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. The cooperation may witness NTPC and Masen exploring
common development opportunities for renewable energy power projects in other
African Countries.
About Masen (www.masen.ma)
Created
in 2010, Masen is the group in charge of piloting renewable energy in Morocco.
Through its projects, Masen contributes to the national objective of achieving
+52% of renewable energy in the Moroccan electricity mix by 2030.
At
the end of 2021, 4109 MW are in operation in wind, hydro and solar. The Masen
Group places at the heart of its strategy the development of renewable
resources, to create an inexhaustible force of economic, social, and
environmental development for Morocco and beyond.
About NTPC (www.ntpc.co.in)
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. To strengthen its core business, the corporation has diversified
into the fields of consultancy, power trading, training of power professionals,
rural electrification, ash utilization, and coal mining as well.
NTPC
became a Maharatna company in May 2010. As of January 2020, there are 10
Maharatnas CPSEs in India. NTPC is ranked No. 2 Independent Power Producer(IPP)
in Platts Top 250 Global Energy Company Rankings.