NTPC, EDF Partner for Pumped Storage, Renewable Energy Expansion

NTPC and EDF India partner to develop pumped storage and renewable energy projects, boosting India's clean energy infrastructure.

Government-owned NTPC has entered into a non-binding Term Sheet with EDF India for cooperation in developing, owning, operating, and maintaining pumped storage projects (PSPs) to enhance India's renewable energy infrastructure. The agreement also covers joint ventures in hydro projects along with other renewable energy installations and identifying opportunities in the power distribution business.

EDF India, a French government-owned multinational utility Électricité de France's subsidiary, will join hands with NTPC in a 50:50 joint venture company (JVC) after getting necessary approvals from the Government of India. The JVC will undertake projects on its own or form further joint ventures and subsidiaries to carry out projects in India and its surrounding countries.

Together with their pooled knowledge and capabilities, NTPC and EDF would seek to lead innovation in India's clean energy industry, underlining decarbonization as well as the global performance of electrical systems. Pumped storage schemes play a pivotal role in stabilizing India's power system, providing a steady clean energy supply by mitigating intermittency problems that come with solar and wind energy.

NTPC, India's largest integrated power utility and a Maharatna company, is currently supplying close to 25% of the country's electricity requirement with an installed capacity of more than 77 GW. Another 29.5 GW is in progress, out of which 9.6 GW will be for renewable energy. By 2032, NTPC is targeting 60 GW of renewable energy capacity, fast-tracking its clean energy ambitions, strengthening its sustainability drive.

The partnership with EDF is in line with India's overall energy transition objectives, prioritizing grid resilience, clean energy growth, and the adoption of innovative renewable technologies to serve the nation's increasing power needs in an efficient and sustainable manner.