Joint Venture24 Feb 2025, 02:29 am
NTPC, EDF to Collaborate on Pumped Storage, Hydro Projects & RE Opportunities
AI Summary
NTPC Limited, a Maharatna company of India, and EDF India Private Limited, owned by Electricité de France SA, have signed a non-binding Term Sheet to collaborate on developing pumped storage project(s) and/or any other hydro power project(s) or Hydro Project(s) bundled with other Renewable Energy projects. The agreement was signed on 23.02.2025 and a JVC with 50: 50 Partnership is proposed to be formed after requisite approval from the Government of India. The JVC will undertake such Project(s) in India and neighbouring countries. NTPC and EDF, with their domain expertise and resources, are poised to contribute significantly to India's renewable energy landscape and foster environmental stewardship.
Key Highlights
- NTPC and EDF have signed a non-binding Term Sheet for collaboration on pumped storage and hydro projects
- A JVC with 50: 50 Partnership is proposed to be formed after approval from the Government of India
- The JVC will undertake such Project(s) in India and neighbouring countries
- NTPC and EDF's collaboration aims to contribute significantly to India's renewable energy landscape
- The agreement was signed on 23.02.2025