New Delhi: NTPC Limited and EDF Power Solutions India Private Limited, a fully owned subsidiary of the French electricity company EDF (Électricité de France), have signed a 50:50 Joint Venture Agreement with the purpose to develop, own and operate pumped storage projects, hydro power project along with other renewable energy (RE) projects and distribution business. This JV shall undertake projects within India and neighbouring countries.
The Joint Venture Agreement was signed on Friday in presence of Gurdeep Singh CMD, NTPC Limited and Bernard Fontana Chairman and CEO EDF SA, France.
Through this strategic partnership, NTPC and EDF power solutions are committed to establish a responsible and innovative industrial company to develop, build and operate low carbon powerplants as well as flexibility solutions and transmission assets.
EDF power solutions and NTPC will leverage their respective expertise to provide tailormade offers, drive the decarbonization and global performance of electrical systems, aligned with India’s ambitious goals of 100GW installed capacity of pumped storage projects by 2036. Considering their domain of expertise and resources, both entities are poised to contribute significantly to India’s renewable energy market, driving innovation and fostering environmental stewardship.
