NTPC and EDF Power Solutions India have formed a 50:50 joint venture to develop, own and operate clean energy projects in India, the Indian sub-continent and neighbouring countries, expanding cooperation between the state-run power company and the French energy group.
The new company will focus on pumped storage projects, hydropower, other renewable energy projects and opportunities in the electricity distribution business. 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, Ministry of External Affairs, Central Electricity Authority, NTPC and Nuclear Power Corporation of India attended from the Indian side, while EDF and the Embassy of France in India represented the French side.
The discussions covered the deployment of EPR technology, regulatory reforms for India’s nuclear sector, pumped hydro storage and the next steps for the broader India-France energy partnership. EDF also briefed the Indian side on its efforts to develop an ecosystem and supply chain in India for large-scale localisation. The company said a sizeable programme involving multiple nuclear reactors would provide suppliers with greater confidence and help create economies of scale by using Indian industry capabilities.
Agarwal briefed the French delegation on progress towards finalising India’s regulatory framework for nuclear power. This includes the draft SHANTI Rules and Regulations—short for Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India—which the Department of Atomic Energy has placed in the public domain for stakeholder consultation. The proposed rules provide for a streamlined, time-bound licensing framework and allow private and foreign partners to participate in India’s nuclear power programme.
The latest agreement follows an April 2026 non-binding memorandum of understanding between NTPC and EDF to explore cooperation in developing new nuclear power projects in India. That framework covered a joint assessment of collaboration opportunities, EDF’s EPR technology and its suitability for Indian requirements, localisation potential, economic and tariff considerations, human-resource development, possible project sites and technical support.
The pumped storage partnership has a longer lead-up. In February 2025, NTPC and EDF India signed a non-binding term sheet covering the development, construction, ownership, operation and maintenance of pumped storage and other hydropower projects. It also included the possibility of combining hydro projects with renewable energy assets and exploring distribution opportunities. The companies subsequently proposed forming a 50:50 joint venture after receiving the required government approvals.
The partners said the new company would develop low-carbon power plants, flexibility solutions and transmission assets. They also linked the partnership to India’s stated ambition of reaching 100 gigawatts of installed pumped storage capacity by 2036. The agreement establishes the institutional platform for the collaboration; project-specific locations, investment amounts, construction schedules and commissioning timelines were not detailed in the announcement.
