India's largest power utility NTPC (formerly National Thermal Power Corporation) is exploring options in foraying into Qatar's conventional power and solar sectors. The Noida-based power generation major also sought Qatar's investments and expertise in India's power sector.
Its Qatar foray could be either through a government-to-government deal or through forming a joint venture, NTPC executive director (Engineering) G Venu told the media.
NTPC is India’s largest power utility with an installed capacity of 52,946MW, with plans to become a 130-GW company by 2032.
Such a joint venture could then bid for projects in the Gulf Cooperation Council (GCC) and the wider Middle East region, said the official, who is now leading a four-member team to Qatar in pursuit of establishing long-term relationship with the Gulf region.
The visiting team has had a preliminary round of talks with Qatar Electricity and Water Company (QEWC), which is responsible for the generation of power in the country. NTPC is also in talks with QEWC international subsidiary Nebras Power, which already has projects in the Middle East region.
"We have shown interest in developing the project (in Qatar)," he said, after his initial round of talks with QEWC. The team would also be visiting Qatar’s power plants.
According to Arab Petroleum Investments Corporation, Qatar's power sector will require $9bn during 2016-20 for generating capacity and transmission and distribution.
Venu said Qatari has also shown keen interest in power projects, other than coal-based, in India.
"We have suggested various ways of investing in India," Venu said, adding Qatar could look at the renewables projects in India as the federal government has attached great importance in harnessing the sector.
NTPC, which lights up every fourth bulb in India, could also provide its consultancy services to Qatar, he said, highlighting that it has been providing such services to Sri Lanka, Bangladesh and Oman.
The National and Bombay Stock Exchanges-listed NTPC has adopted a multi-prong strategy which includes Greenfield projects, Brownfield projects, joint ventures and acquisition of existing plants route.
NTPC — which has forayed from fossil fuels into generating electricity via hydro, nuclear and renewable energy sources — was ranked 512th in the ‘2018, Forbes Global 2000’ ranking of the World’s biggest companies.
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