In a significant move to bolster India’s renewable energy landscape, NTPC Limited, India’s largest integrated power utility, and EDF India Private Limited, a subsidiary of the French multinational electric utility company Électricité de France SA, have signed a non-binding Term Sheet to collaborate on pumped storage and hydro power projects. The agreement, signed on 23rd February 2025 during Elecrama 2025, marks a pivotal step in India’s journey towards sustainable energy solutions.
The ceremony was attended by key dignitaries, including Shri Gurdeep Singh, CMD of NTPC, and Mr. Luc Rémont, Chairman and CEO of EDF France, alongside senior officials from both organizations. Shri Pankaj Agarwal, Secretary of the Ministry of Power, Government of India, also graced the occasion, underscoring the strategic importance of this partnership.
Under the agreement, NTPC and EDF propose to establish a 50:50 Joint Venture Company (JVC) following necessary approvals from the Indian government. This JVC will focus on developing, constructing, operating, and maintaining pumped storage projects, hydro power projects, and hybrid projects bundled with other renewable energy sources. Additionally, the collaboration will explore opportunities in the distribution business, further expanding its impact on India’s energy sector.
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The partnership leverages NTPC’s extensive expertise as India’s largest power producer, with an installed capacity of over 77 GW, and EDF’s global leadership in renewable energy innovation. Together, they aim to drive decarbonization, enhance electrical system performance, and contribute significantly to India’s target of achieving 60 GW of renewable energy capacity by 2032.
This collaboration not only strengthens India-France bilateral ties but also positions both companies as key players in the global transition to clean energy. By combining their resources and expertise, NTPC and EDF are set to deliver tailor-made solutions that foster environmental stewardship and accelerate India’s renewable energy ambitions.
With a diverse portfolio spanning thermal, hydro, solar, and wind power, NTPC continues to lead India’s charge towards a sustainable energy future. This partnership with EDF further solidifies its commitment to innovation, affordability, and reliability in power generation, paving the way for a greener tomorrow.