New Delhi, Feb 24 (KNN) NTPC Limited, India’s largest integrated power utility, and EDF India Private Limited, a subsidiary of the French energy giant EDF, have signed a non-binding Term Sheet to collaborate on developing pumped storage projects, hydro power projects, and hybrid hydro-renewable energy initiatives through Joint Venture Company (JVC).  

This new entity will spearhead the development of hydro and pumped storage projects across India and neighboring countries. The JVC may also create subsidiaries or form additional joint ventures for specific project implementations.

The agreement was formalized during Elecrama 2025 on February 23, with Federico D’Amico, CEO of EDF India, and J C Kakoti, GM-Hydro Engineering of NTPC, signing the document.

The event was witnessed by Gurdeep Singh, Chairman and Managing Director of NTPC, and Luc Rémont, Chairman and CEO of EDF France.

Pankaj Agarwal, Secretary of the Ministry of Power, along with senior officials from both organizations, also attended the signing ceremony.

NTPC currently boasts an installed capacity of over 77 GW, with an additional 29.5 GW under construction, including 9.6 GW dedicated to renewable energy.

The company has set an ambitious target of achieving 60 GW of renewable energy capacity by 2032, reinforcing its commitment to sustainable energy solutions.

EDF, a French government-owned multinational electric utility company, is globally recognised for its expertise in decarbonisation and optimization of electrical systems.

The partnership with NTPC aligns with EDF’s strategic goals of expanding its clean energy portfolio and supporting global efforts to combat climate change.

This collaboration marks a significant step forward in strengthening India’s renewable energy infrastructure, promoting sustainable development, and fostering cross-border energy cooperation in the region.

(KNN Bureau)