Clean Energy Partnership
NTPC and EDF Sign Joint Venture for Low-Carbon Energy Projects in India
Anonymous
India’s state-run NTPC and EDF Power Solutions India have signed a 50:50 joint venture to develop, own and operate low-carbon energy projects in India and neighboring countries. The venture will focus on pumped-storage and hydropower projects, other renewables, and potentially electricity distribution, transmission and other grid-flexibility assets. The partnership is intended to support renewable integration and India’s target of 100 gigawatts of installed pumped-storage capacity by 2036. The companies have not announced an initial project pipeline, investment amount or development timeline.
Key Points
1
The agreement was signed on September 25 in the presence of NTPC Chairman and Managing Director Gurdeep Singh and EDF SA Chairman and CEO Bernard Fontana.
2
The companies described the venture as an effort to establish “a responsible and innovative industrial company” and said they would combine expertise to offer tailored solutions and improve the decarbonization and performance of electrical systems.
3
EDF Power Solutions India is a wholly owned subsidiary of EDF, the French electricity company.
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