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NTPC and EDF Partner for Pumped Storage, Hydro, and Renewable Energy Projects

NTPC and EDF India have signed a non-binding term sheet to jointly develop, own, and operate pumped storage and hydro power projects during the ongoing Elecrama 2025.

February 24, 2025. By Mrinmoy Dey

NTPC Ltd., a Maharatna company of India and EDF India Pvt. Ltd., owned by Électricité de France SA, a French multinational electric utility company owned by the Government of France, have signed a non-binding Term Sheet and collaborated to develop (including construction), own, operate and maintain pumped storage project(s) and/or any other hydro power project(s) or Hydro Project(s) bundled with other renewable energy projects and explore opportunities in the distribution business.

Subsequent to the signing of the term sheet on February 23, 2025, during Elecrama 2025, NTPC and EDF propose to form a JVC with 50: 50 partnership after requisite approval from the Government of India.

This JVC will undertake such project(s) on its own and/or may create JV and subsidiaries (Project SPV) for undertaking such project(s) within India and neighbouring countries. Considering their domain expertise and resources, both NTPC and EDF are poised to contribute significantly to India's renewable energy landscape, driving innovation and fostering environmental stewardship and will leverage its expertise for tailormade offers, driving the decarbonisation and global performance of electrical systems.

The agreement was signed by Federico D’Amico, CEO, EDF India and J.C. Kakoti, GM-Hydro Engineering, NTPC in the presence of Gurdeep Singh, CMD, NTPC and Luc Rémont, Chairman and CEO, EDF France. The MoU signing ceremony was attended by Pankaj Agarwal, Secretary, Ministry of Power; Patrick Charignon, Executive Vice President, APAC, EDF; Goutam Deb, RED-Hydro, NTPC; Sangeeta Kaushik, ED-Corporate Planning, NTPC and senior officials from NTPC and EDF.

NTPC is India's largest integrated power utility, contributing one-fourth of India’s power requirements and has an installed capacity of over 77 GW, with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity. The company is committed to achieving 60 GW of renewable energy capacity by 2032.

With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is dedicated to delivering reliable, affordable, and sustainable electricity to the nation. The company is committed to adopting best practices, fostering innovation, and embracing clean energy technologies for a greener future.

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By Électricité de France SA

NTPC partners with EDF