State-run NTPC has initiated talks with GE Energy Financial Services of the US, Kyushu Electric Power Company of Japan and Brookfield Power Corporation of Canada for setting up a joint venture company to undertake renewable power generation. It has initiated the move in accordance with its memorandum of understanding with Asian development Bank . As reported by FE last week, NTPC has already chalked out plans for a capacity addition of 1,000 mw through renewable sources by investing Rs 6,000 crore in the next 10 years. As part of this plan, the PSU has recently revised the wind power generation capacity target to 100 mw from the initial 50 mw. "ADB had submitted a proposal to NTPC for forming a joint venture company among NTPC, ADB and strategic private sector investors / financial institutions /general public (IPO), for a capacity addition of 500 mw through renewable energy sources. ADB had recommended that only one JV partner should be chosen from any country,' sources said. According to the MoU, NTPC will have a 50% equity shareholding in the joint venture company and the rest will be distributed among other strategic investors, subject to the condition that none of these strategic investors will either individually or through affiliates/associates hold more than 25% in the JVC. Further, the strategic investors will be selected by NTPC and ADB through well-defined selection criteria. However, potential strategic investors have to agree that the percentage of their equity holding in the JVC has to be suitably adjusted to allow ADB to acquire a 20% stake in the equity later.