NTPC and EDF collaborate on pumped storage projects

NTPC Limited has announced a collaboration with EDF India Private Limited to develop, own, operate, and maintain pumped storage and hydro power projects, including those bundled with renewable energy initiatives. The agreement, formalized with a non-binding Term Sheet, aims to explore opportunities in the distribution business. The deal was signed by representatives from both companies, including Mr. Federico D'Amico (EDF India) and Shri J C Kakoti (NTPC), in the presence of senior executives, and officials from the Ministry of Power, GOI. The collaboration envisions the formation of a JVC with a 50:50 partnership, pending government approval. The JVC will undertake projects independently or through Project SPVs in India and neighboring countries. NTPC, India's largest integrated power utility with over 77 GW installed capacity, seeks to leverage this partnership to contribute to India's renewable energy landscape and is committed to achieving 60 GW of renewable energy capacity by 2032.