In an effort to acquire expertise it doesn’t currently possess, India’s largest power generation company NTPC Ltd is in talks with foreign firms in the renewable energy business to sell around 40% of its stake in a proposed joint venture (JV) with multilateral lending agency, Asian Development Bank (ADB).
NTPC will hold 40%, ADB, 20%, and the foreign companies will hold 40% in the venture that is part of an effort by the company and the government to reduce, if only marginally, the dependance of the country on fossil fuels such as coal and gas for power generation. The foreign companies are expected to share their expertise in the areas of wind, solar, geothermal and biomass energy generation.The JV hasn't been finalised yet.
Read more in The Livemint article.
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