NTPC and EDF Power Solutions India Form Joint Venture for Energy Projects
State-owned power producer NTPC and EDF Power Solutions India, a subsidiary of the French utility EDF, have formed a 50:50 joint venture. The agreement, signed on September 25, establishes a partnership to develop, own, and operate pumped storage, hydropower, and other renewable energy projects. The joint venture will also engage in the distribution business.
The collaboration will focus on projects within India and neighboring countries. Both companies will combine their expertise in power generation and energy systems to advance low-carbon power generation, flexibility solutions, and transmission assets. This initiative supports the decarbonization of electricity systems, aligning with India's target of 100 GW of installed pumped storage capacity by 2036, which is expected to integrate variable renewable energy into the power grid.
