NTPC Limited, India’s largest integrated power utility, has recently informed exchanges that the company joined hands with EDF India, a subsidiary of France’s Électricité de France SA, to accelerate the development of pumped storage and hydro power projects. The two power giants signed a non-binding Term Sheet on February 23, 2025, at Elecrama 2025, paving the way for a 50:50 Joint Venture Company (JVC), pending government approvals.
This strategic collaboration aims to develop, own, operate, and maintain hydro and renewable energy projects, as well as explore opportunities in India’s power distribution sector. The signing ceremony was attended by key officials, including Shri Gurdeep Singh, CMD (NTPC), Mr. Luc Rémont, Chairman & CEO (EDF France), and Shri Pankaj Agarwal, Secretary, Ministry of Power, Government of India.
The upcoming JVC will oversee hydro and renewable projects in India and neighboring countries, either directly or through Special Purpose Vehicles (SPVs). Leveraging their expertise, NTPC and EDF will drive innovation, decarbonization, and global energy efficiency, reinforcing India’s commitment to sustainable power generation.
With an installed capacity exceeding 77 GW and 9.6 GW of renewable projects under development, NTPC is a leader in India’s green energy transition. The company aims to achieve 60 GW of renewable capacity by 2032, supporting India’s vision for a cleaner and more sustainable future.
