NTPC Limited and EDF Power Solutions India Private Limited, a wholly owned subsidiary of French energy major Électricité de France (EDF), have entered into a 50:50 joint venture agreement to develop, own, and operate a range of low-carbon energy projects in India and neighbouring countries.
The agreement was signed on September 25, 2026, in the presence of Gurdeep Singh, Chairman and Managing Director of NTPC, and Bernard Fontana, Chairman and CEO of EDF SA, France.
Under the partnership, the joint venture will focus on the development, ownership, and operation of pumped storage projects, hydropower projects, renewable energy projects, and electricity distribution businesses. The partnership will undertake projects in India as well as neighbouring countries.
The two companies intend to establish an industrial platform focused on developing, building, and operating low-carbon power plants, flexibility solutions, and transmission assets. The partnership will combine the respective expertise and resources of NTPC and EDF Power Solutions to develop solutions aimed at supporting the decarbonisation and performance of electricity systems.
Pumped storage is expected to be a key area of focus as India expands its energy storage infrastructure to support the integration of variable renewable energy. The partnership aligns with India’s stated target of reaching 100 GW of installed pumped storage capacity by 2036.
The JV will also explore opportunities across renewable generation and other power infrastructure, creating a platform for both companies to participate in India’s expanding clean energy market and in projects in neighbouring countries.
The agreement follows earlier cooperation between NTPC and EDF in the clean energy space. NTPC’s corporate disclosures show that the two companies had previously announced plans to collaborate on pumped storage, hydropower projects and renewable energy opportunities.
The partnership is expected to bring together NTPC’s experience as a major integrated power utility with EDF Power Solutions’ capabilities in renewable energy and energy systems, with the objective of supporting the development of low-carbon generation and flexibility infrastructure.
