NTPC Limited and EDF Power Solutions India Private Limited, a wholly owned subsidiary of French power company EDF, have entered into a 50:50 joint venture to develop and operate low-carbon energy infrastructure. The joint venture will focus on the development, ownership and operation of pumped storage projects, hydroelectric installations, other renewable energy projects and electricity distribution operations. The entity will also have a mandate to execute power projects in India and neighbouring countries.
The agreement was formally signed on September 25 in the presence of Gurdeep Singh, Chairman and Managing Director of NTPC, and Bernard Fontana, Chairman and Chief Executive Officer of EDF SA, France.
The partnership builds on the companies’ earlier collaboration in pumped storage, hydro and renewable energy opportunities. NTPC’s annual report had previously noted its work with EDF India to develop, construct, own, operate and maintain pumped storage and hydro projects, including projects bundled with renewable energy, as well as explore opportunities in distribution.
Under the new arrangement, NTPC and EDF Power Solutions India will combine their technical and operational capabilities to develop low-carbon power plants, flexibility solutions and transmission assets.
The partnership will also support the development of pumped storage capacity in line with India’s long-term energy transition plans. NTPC has been expanding its presence in renewable energy, hydro power, distribution and energy storage as part of its broader diversification strategy.
The companies said the joint venture will focus on developing solutions for the decarbonisation and performance of electrical systems and contribute to renewable energy capacity development in India.