Both the parties will cooperate on finding and targeting investment opportunities in the energy sector across Russia in order to develop mutually beneficial deals.
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 all the energy segments that include thermal, hydro, solar and wind, transmission, distribution and trading.
RDIF was established in June 2011 to make equity co-investments primarily in Russia alongside international financial and strategic investors.
RDIF has also signed an agreement with India’s financial services firm IDFC under which both the parties jointly invest up to $1bn in infrastructure projects to increase economic cooperation between the countries.
