NTPC, Africa50 join hands to develop power projects across Africa

NEW DELHI: State-run power utility NTPC has signed a cooperation agreement with Africa50 to identify, assess and develop power generation projects and cross-border electricity trading opportunities across Africa.NTPC said in a statement that the partnership will combine its engineering and operational capabilities with Africa50’s project development and financing expertise to advance commercially viable power projects, attract investment and expand reliable electricity supply to households and businesses. Africa50 is a pan-African infrastructure investor and asset manager.“NTPC will bring its extensive technical, engineering, project development, construction management and operations expertise to assess project feasibility, develop viable solutions and support the progression of identified opportunities towards implementation,” the company said.Africa50 will draw on its pipeline of projects across the continent and relationships with govts and regulators, backed by 34 African countries as shareholders, to identify priority projects, structure them for investment and support their development, it added.NTPC CMD Gurdeep Singh said the two organisations will work closely to develop commercially viable power projects in mutually agreed countries in Africa.“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,” he said.Alain Ebobisse, group CEO of Africa50, said reliable and competitively priced power was central to Africa’s industrial and economic transformation.“This partnership combines Africa50’s ability to develop, de-risk and deliver investable projects with NTPC’s proven technical expertise to translate public ambition into private investment in power generation. Together, we aim to strengthen regional power systems that support industrial growth, expand trade and create jobs,” he said.You use AI every day. Now get your AI Quotient. Take the AIQ test.