NTPC and EDF form 50:50 joint venture for pumped storage and renewable energy in India

Indian state utility NTPC and French energy firm EDF have signed a 50:50 joint venture to develop and operate low-carbon energy infrastructure. The agreement covers pumped storage, hydroelectric plants, other renewables, and electricity distribution, with a mandate to work in India and neighboring countries. The deal was finalized on September 25, with both companies committing to combine technical and operational resources to support India's decarbonization goals. The partnership aligns with India's target of reaching 100 GW of installed pumped storage capacity by 2036. By pooling expertise, the JV aims to deliver reliable renewable capacity additions and flexibility solutions. The move reflects growing international cooperation in India's energy transition, as the country seeks to balance variable renewables with storage and grid stability.