NTPC Limited and EDF Power Solutions India Private Limited have formed a 50:50 joint venture to develop and operate low-carbon energy infrastructure in India and neighbouring countries, creating a new institutional partnership around pumped storage, hydropower and renewable energy projects.
The agreement was signed on September 25 in the presence of Gurdeep Singh, chairman and managing director of NTPC Limited, and Bernard Fontana, chairman and chief executive officer of EDF SA, France. EDF Power Solutions India is a wholly owned arm of the French power company.
According to a release cited by Moneycontrol, the newly created entity will focus on the development, ownership and operation of pumped storage projects, hydroelectric installations, other renewable energy facilities and electricity distribution operations. The partnership is also expected to work on low-carbon power plants, flexibility solutions and transmission assets.
Pumped storage is increasingly being positioned as an infrastructure component for integrating renewable power into electricity systems. The technology stores energy and can provide flexibility when generation and demand do not coincide. In the release, NTPC and EDF said their project pipeline would be aligned with India’s long-term energy transition targets, including the government’s goal of reaching 100 gigawatts of installed pumped storage capacity by 2036.
The joint venture will combine the technical and operational resources of the two companies. Its stated mandate covers both the creation of new assets and their subsequent ownership and operation, indicating that the partnership is intended to participate across the project lifecycle rather than only provide construction or development support.
The companies said the partnership would establish a joint industrial enterprise focused on green-transition assets. The release described the proposed company as a vehicle to develop, build and operate low-carbon power plants, flexibility solutions and transmission assets, while also supporting additions to renewable capacity.
The agreement expands the role of NTPC, India’s state-run power utility, beyond conventional power generation into a wider portfolio of transition-related infrastructure. For EDF Power Solutions, the arrangement provides a formal partnership with a major Indian public-sector energy company for projects in India and neighbouring countries. The release did not disclose the names, locations, capacities, investment amounts or construction timelines of individual projects.
The proposed areas of work also include electricity distribution operations, placing the partnership in parts of the power system that connect generation assets with end users. However, the release did not specify which distribution markets or utilities could be involved, or whether any particular projects had received approvals, financial closure or construction orders.
The companies said they intended to provide “tailormade offers” and contribute to the decarbonisation and global performance of electrical systems. They also said the combined resources of both operators would support regular additions to renewable capacity and help drive innovation and environmental stewardship.
The next steps will depend on the joint venture’s project pipeline and the development, approval and execution of specific assets. As of the announcement, the companies had confirmed the partnership’s broad mandate but had not released project-level details, implementation milestones or an investment schedule.
