NTPC forms JV company Pan-Asian Renewables Private Ltd

National Thermal Power Corporation Ltd has announced with reference to the signing of Joint Venture Agreement, that a Joint Venture Company under the name 'Pan-Asian Renewables Private Ltd' has been incorporated on October 14, 2011 amongst NTPC Ltd. (NTPC), Asian Development Bank (ADB) and Kyuden International Corporation, a wholly owned subsidiary of Kyushu Electric Power Company Inc. (Kyushu) NTPC, ADB and Kyushu shall initially contribute in the ratio of 50:25:25 In the equity share capital of the Company.

The Company has been incorporated to develop renewable energy projects and initially establish over a period of three years a portfolio of about 500 MW of Renewable Power Generation resources in India.

The stock closed the day at Rs.168.45, down by Rs.4.55 or 2.63%. The stock hit an intraday high of Rs.174.75 and low of Rs.167.75.

The total traded quantity was 3.89 lakhs compared to 2 week average of 1.83 lakhs.

Source : Equity Bulls

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