Noida, Sep 26 (APAC Media): State-owned power giant NTPC has entered into a joint venture agreement with EDF Power Solutions India to jointly develop renewable energy and power-sector projects in India and neighbouring countries, the company said.
Under the agreement, NTPC and EDF Power Solutions India will hold an equal 50 per cent stake in the proposed joint venture. The partnership will focus on developing, owning and operating pumped storage projects, hydropower projects and other renewable energy assets.
The two companies will also explore opportunities in the power distribution sector as part of their broader collaboration.
The agreement was signed on September 25 in the presence of senior officials from both companies, including NTPC Chairman and Managing Director Gurdeep Singh and EDF Chairman and CEO Bernard Fontana.
The partnership is aimed at combining NTPC’s experience and presence in India’s power sector with EDF’s expertise in low-carbon energy and power systems.
The joint venture will seek to develop low-carbon generation facilities, energy flexibility solutions and transmission-related assets. It will also examine opportunities to develop projects tailored to the requirements of India’s evolving electricity system.
Pumped storage is expected to be an important area of cooperation. Such projects can store electricity and release it during periods of high demand, helping balance the power grid and support the integration of renewable sources such as solar and wind.
The collaboration builds on an earlier understanding between the two companies. NTPC and EDF had signed a non-binding term sheet in February 2025 covering potential cooperation in pumped storage, hydropower, renewable energy-linked hydro projects and power distribution.
The latest agreement formalises the companies’ plan to work together through a dedicated joint venture and expand their presence in India’s clean energy sector.
NTPC has been diversifying its portfolio beyond conventional power generation, with investments in renewable energy, energy storage, green hydrogen and other emerging areas of the energy transition.
The company has set a target of achieving 60 GW of renewable energy capacity by 2032 as part of its long-term expansion strategy.
For EDF, the partnership provides an opportunity to deepen its participation in India’s growing clean-energy market and work with one of the country’s largest power producers.
The joint venture will also have the flexibility to pursue projects in neighbouring countries, potentially expanding the scope of cooperation beyond India’s domestic renewable energy market.
The partnership comes at a time when India is rapidly expanding renewable power capacity and strengthening its energy-storage infrastructure to manage the increasing share of intermittent renewable generation.
–ENDS–
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