RFID and Tata Power to look for investment opportunities in Russia’s energy sector

The Russian Direct Investment Fund (RDIF) and Tata Power, an Indian energy firm , have inked a memorandum of understanding to develop investment opportunities in the Russia’s energy sector.

As part of this agreement, RDIF and Tata Power collaborate on finding and targeting investment opportunities in the energy sector across Russia that would benefit both the parties.

RDIF CEO Kirill Dmitriev said: “RDIF has identified the energy sector as one of its key priorities for increasing Russia’s economic efficiency and sustainability.

“Our collaboration with Tata Power will not only introduce a new, established player into the Russian market, but will provide opportunities to leverage Tata Power’s high-class expertise in renewable energy production and implementation of large-scale international projects.”

Tata Power CEO & managing director Anil Sardana said: “The signing of this MOU is a significant milestone for Tata Power and we endeavour to be a significant player in the international energy market.”

Tata Power operates in energy segments, which include thermal, hydro, solar and wind, transmission, distribution and trading.

Established in June 2011, RDIF makes equity co-investments primarily in Russia in collaboration with global financial and strategic investors.

RDIF has also inked an agreement with IDFC, an Indian financial services company, as per which both the parties would jointly invest up to $1bn in infrastructure projects to boost economic cooperation between the countries.