NTPC, French utility to collaborate on PSPs & RE opportunities

State-run NTPC has signed a non-binding Term Sheet with EDF India, and will collaborate to develop, own, operate and maintain pumped storage projects (PSPs).

The collaboration also includes partnering for Hydro projects bundled with other renewable energy installations and explore opportunities in the distribution business.

EDF India is owned by the multinational electric utility Électricité de France, a French Government firm.

NTPC and EDF will form a joint venture company (JVC) with 50:50 partnership after requisite approval from the Government of India.

Also read: NTPC plans major nuclear expansion with 30 GW target, eyeing global partnerships

The JVC will undertake projects on its own or may create JV and subsidiaries for undertaking projects within India and neighbouring countries.

Considering their domain expertise and resources, both are poised to contribute significantly to India’s renewable energy landscape, driving innovation and fostering environmental stewardship and will leverage its expertise for offers, drive the decarbonisation and global performance of electrical systems.

NTPC, a Maharatna company, is India’s largest integrated power utility, contributing one-fourth of India’s power requirements and has an installed capacity of over 77 gigawatts (GW), with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity.

Also read: Reliance Infra enters renewable energy manufacturing; to set up solar panel, battery units

The company is committed to achieving 60 GW of renewable energy capacity by 2032. With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is dedicated to delivering reliable, affordable, and sustainable electricity to the nation.