NTPC and EDF launch 50:50 joint venture for pumped storage, hydro, and renewables in India

NTPC, India's state-run power utility, and EDF Power Solutions India have formed a 50:50 joint venture to develop, build, and operate low-carbon energy infrastructure. The agreement covers pumped storage, hydroelectric plants, other renewable projects, and electricity distribution, with a focus on domestic and neighboring markets. The partnership was signed on September 25 by NTPC's Gurdeep Singh and EDF's Bernard Fontana. The JV aligns with India's target of 100 GW of installed pumped storage capacity by 2036. Both companies plan to combine technical and operational resources to support renewable capacity additions and grid flexibility. The collaboration aims to contribute to India's renewable energy market while driving decarbonization of the electrical system.