New Delhi, February 24, 2025: NTPC and EDF India, a subsidiary of French multinational electric utility company Electricite de France SA (EDF), have signed a non-binding Term Sheet to collaborate on the development, ownership, operation, and maintenance of pumped storage projects, hydro power projects, and hybrid renewable energy projects. The agreement also includes exploring opportunities in the power distribution sector.

Following the signing of the term sheet on February 23, 2025, during Elecrama 2025, both companies plan to establish a Joint Venture Company (JVC) with an equal 50:50 partnership, subject to approval from the Government of India.

The proposed JVC will undertake renewable energy projects independently or through joint ventures and subsidiaries (Project SPVs) in India and neighboring countries. Leveraging their expertise and resources, NTPC and EDF aim to drive innovation, accelerate decarbonization, and enhance global energy efficiency.

NTPC, India's largest power utility, has a strong presence in coal, gas, solar, hydro, wind power generation, and coal mining, further strengthening its commitment to India's renewable energy transition.