NTPC Limited and EDF Power Solutions India, a wholly owned subsidiary of French electricity major Électricité de France (EDF), have formed a 50:50 joint venture to develop, own, and operate pumped storage, hydropower, and other renewable energy projects, along with distribution businesses in India and neighbouring countries.
The joint venture agreement was signed on September 25, witnessed by NTPC Chairman Gurdeep Singh and Bernard Fontana, Chairman and CEO of EDF SA, France. This partnership combines NTPC's domestic power-sector expertise with EDF's global experience to develop, build, and operate low-carbon power plants, flexibility solutions, and transmission assets.
The collaboration aims to support India's clean-energy transition, foster investment and technological innovation, and strengthen India-France cooperation in the energy sector.
It also aligns with India’s target of achieving 100 GW of installed pumped storage capacity by 2036, positioning the joint venture to contribute significantly to expanding renewable and flexible power infrastructure.
