Russia's RDIF, India's IDFC partnering for US$1 billion hydroelectric power investment deal

India Map

The Russian Direct Investment Fund will partner with India's Infrastructure Development Finance Company in a US$1 billion hydroelectric project investment package.

An agreement signed today during a visit by Vladimir Putin during the Russian president's visit to New Delhi will see both RDIF and IDFC commit $500 million for the initiative, which is aimed at helping India take advantage of its hydropower potential -- particularly in the northern Himalayan region.

RDIF said that it would back development of the projects with the support of a Russian hydropower company, though fund officials declined to specify which company might be involved.

The Russian fund, which was established in 2011 with $10 billion state funds, has already invested heavily into sovereign wealth funds from the Middle East and Asia.

Meanwhile, reported in February that IDFC Alternatives had partnered with Abu Dhabi National Energy Co. (TAQA) and Canada's PSP Investments to acquire two unnamed projects in India's Himachal Pradesh state.

For more news from Asia, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs