NTPC, EDF sign pact to develop RE projects in India

State-owned NTPC and EDF Power Solutions India have joined hands to jointly develop, own and operate pumped storage projects and hydropower projects, as well as other renewable energy (RE) projects and distribution business.

This 50:50 JV shall undertake projects within India and neighbouring countries, NTPC said in a statement.

The joint venture (JV) agreement was signed on September 25 in the presence of NTPC Chairman Gurdeep Singh and Bernard Fontana, Chairman and CEO of EDF SA, France.

Through this strategic partnership, NTPC and EDF Power Solutions, a fully owned subsidiary of the French electricity company EDF (Electricite de France), are committed to establishing a responsible and innovative industrial company to develop, build and operate low-carbon power plants, as well as flexibility solutions and transmission assets.