NTPC and EDF Power Solutions India have formed a 50:50 joint venture to develop, own and operate clean-energy projects in India and neighbouring countries, expanding cooperation between the state-run power company and the French energy group beyond their ongoing discussions on nuclear power.
The new company will explore pumped storage projects, hydropower, other renewable-energy projects and distribution businesses. The agreement was signed in the presence of NTPC Chairman and Managing Director Gurdeep Singh and EDF Chairman and Chief Executive Officer Bernard Fontana.
The signing took place during a wider India-France meeting on cooperation in non-fossil fuel energy sources, including nuclear power. Power Secretary Pankaj Agarwal and Fontana reviewed the ongoing engagement between India and EDF on the proposed deployment of European Pressurised Reactor technology in India.
Officials from the Ministry of Power, the Ministry of External Affairs, the Central Electricity Authority, NTPC and Nuclear Power Corporation of India attended the discussions on the Indian side. EDF and the Embassy of France in India represented the French side.
The talks covered the deployment of EPR technology, India’s regulatory reforms for the nuclear sector, cooperation on pumped hydro storage and the next steps for the broader partnership. EDF also briefed the Indian side on efforts to build an Indian ecosystem and supply chain for large-scale localisation of nuclear projects.
According to the statement cited in the announcement, EDF said that a sizeable programme involving multiple nuclear reactors would provide suppliers with greater confidence and allow economies of scale by using Indian industry capabilities. The nuclear discussions are separate from the newly formed clean-energy joint venture, but both tracks are part of the wider India-France energy engagement.
A key focus for the joint venture will be pumped storage, a form of hydropower that can help balance electricity supply when renewable generation varies. The partners said they would develop low-carbon power plants, flexibility solutions and transmission assets, and provide tailored offerings for electrical systems. They linked the partnership to India’s stated goal of reaching 100 GW of installed pumped storage capacity by 2036.
The agreement formalises cooperation that began with a non-binding term sheet signed by NTPC and EDF India in February 2025. That term sheet covered the development, construction, ownership, operation and maintenance of pumped storage and other hydropower projects, including hydro projects combined with renewable-energy assets. It also identified distribution as a potential area of cooperation.
In April 2026, NTPC and EDF signed another non-binding memorandum of understanding to examine collaboration on new nuclear power projects in India. The memorandum provided for joint assessment of EDF’s EPR technology, its suitability for Indian requirements, localisation opportunities, economic and tariff considerations, human-resource development, potential project sites and technical support.
The wider partnership comes as India works to expand non-fossil electricity while addressing the operational challenge of integrating variable renewable generation. The new joint venture’s proposed focus on storage, transmission and distribution places it across several parts of the electricity system rather than limiting it to power generation alone.
The government is also consulting stakeholders on draft SHANTI Rules and Regulations for the nuclear power sector. According to the announcement, the proposed framework would provide a streamlined, time-bound licensing process and enable participation by private and foreign partners. The next steps for the NTPC-EDF partnership will include implementing the joint venture framework and advancing discussions on specific clean-energy and nuclear projects.
