NEW DELHI: State-run power major NTPC has signed an agreement with EDF India, subsidiary of France’s Électricité de France (EDF), to collaborate on hydro and pumped storage projects.
The partnership will also explore renewable energy initiatives and opportunities in power distribution. In a joint statement, the companies announced that they had signed a non-binding term sheet to develop, own, operate, and maintain pumped storage and hydro-power projects. The agreement was formalised on February 23, with signatures from Federico D’Amico, CEO of EDF India, and JC Kakoti, General Manager of Hydro Engineering at NTPC. The signing ceremony was attended by NTPC’s Chairman and Managing Director Gurdeep Singh and EDF France’s Chairman and CEO Luc Remont.
Also present were Power Secretary Pankaj Agarwal and senior officials from the Ministry of Power. As per the agreement, NTPC and EDF plan to form a joint venture company with equal ownership (50:50), subject to approval from the Government of India. This venture will focus on executing hydro and pumped storage projects within India and in neighboring countries. The joint venture may also establish subsidiaries or additional partnerships to undertake specific projects. The pact was signed on the sidelines of ELECRAMA 2025, a major global power sector summit held in Greater Noida, on the outskirts of Delhi.
With NTPC and EDF joining forces, India’s hydro and renewable energy sectors are set to gain a significant boost, further strengthening the country’s position in the global clean energy movement.
