NTPC and EDF form 50:50 joint venture to develop low-carbon power projects

The JV firm, with the Indian arm of French power major EDF, is eyeing pumped storage projects, hydro power projects, other renewable energy projects and distribution business within India and neighbouring countries

New Delhi: NTPC Limited and EDF Power Solutions India have signed a 50:50 joint venture agreement to develop low-carbon energy projects in India and neighbouring countries.The partnership will focus on pumped storage, hydropower and other renewable energy facilities. It may also take up electricity distribution, transmission and projects that help balance power supply as more renewable energy enters the grid.The agreement was signed on September 25 in the presence of NTPC Chairman and Managing Director Gurdeep Singh and EDF SA Chairman and Chief Executive Officer Bernard Fontana. EDF Power Solutions India is a wholly owned arm of the French power company.NTPC Khargone Wins Excellent Energy Efficient Unit Award At CII National Awards 2026 The two firms plan to bring together their technical and operational capabilities to develop, build, own and run projects. Their joint venture will be able to pursue opportunities both within India and across neighbouring markets.Focus On Pumped StoragePumped storage is central to the proposed partnership. It stores energy by moving water to a higher reservoir when electricity is available, then releases it to generate power when needed. This can help the grid cope with fluctuations in solar and wind generation.NTPC Launches Three-Month Vigilance Awareness Campaign 2026 The companies said the venture supports India’s energy transition goals. Their release cited a government target of reaching 100 gigawatts of installed pumped storage capacity by 2036.Projects Yet To Be AnnouncedThe partners also intend to work on low-carbon power plants and infrastructure that can make electricity systems more flexible. They said the venture would develop solutions suited to the needs of individual markets while supporting further renewable capacity additions.The announcement sets out a broad business mandate. NTPC and EDF have not disclosed a project pipeline, investment amount or timeline for the venture’s first development. Those details will determine how quickly the agreement translates into new capacity on the ground.