NTPC, India’s largest power utility, has signed a non-binding agreement with EDF India, a subsidiary of France’s state-owned Électricité de France, to jointly develop, own, and operate pumped storage projects (PSPs). This collaboration extends to hydro projects and other renewable energy ventures, reinforcing India’s commitment to a sustainable energy transition.
Under the agreement, the two companies will establish a joint venture company (JVC) with equal ownership, pending approval from the Government of India. The JVC will oversee project development, with the flexibility to form additional joint ventures or subsidiaries for executing projects across India and neighbouring countries.
The partnership aligns with NTPC’s long-term renewable energy goals. As a Maharatna company, NTPC operates over 77 GW of installed capacity, with an additional 29.5 GW under construction, including 9.6 GW from renewable sources. The company aims to reach 60 GW of renewable capacity by 2032, expanding its portfolio across thermal, hydro, solar, and wind energy.
This collaboration is expected to drive innovation in power storage, improve grid efficiency, and support India’s decarbonization efforts. With PSPs playing a crucial role in balancing renewable energy generation, NTPC and EDF’s combined expertise will strengthen the country’s energy infrastructure and sustainability initiatives.
