National Thermal Power Corporation Limited has announced with reference to the signing of JV agreement, that a JV company under the name Pan Asian Renewables Private Limited has been incorporated on October 14th 2011 amongst NTPC Limited, Asian Development Bank and Kyuden International Corporation, a wholly owned subsidiary of Kyushu Electric Power Company Inc.

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.

(Sourced from www.equitybulls.com)