NTPC inks MOU with Moroccan Agency for Sustainable Energy for cooperation in RE Sector during the 17th CII EXIM conclave – EQ Mag Pro
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
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
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.
