NTPC and EDF Form 50:50 JV for Pumped Storage, Hydro, and Renewables in India and Neighboring Countries

India's NTPC and France's EDF have signed a 50:50 joint venture agreement to develop, own, and operate pumped storage, hydropower, and other renewable energy projects, along with distribution and transmission assets. The JV will operate in India and neighboring countries, supporting India's target of 100 GW of pumped storage capacity by 2036. The agreement was signed on September 25, 2026, by NTPC CMD Gurdeep Singh and EDF Chairman and CEO Bernard Fontana. The partnership combines NTPC's domestic scale with EDF's global expertise in low-carbon power and flexibility solutions. It aims to drive decarbonization of electrical systems and contribute to India's renewable energy market. The JV will focus on building a responsible industrial company for low-carbon power plants, flexibility solutions, and transmission assets, leveraging both entities' resources and domain expertise.