State-owned NTPC and EDF Power Solutions India have formed a 50:50 joint venture to develop, own and operate pumped storage, hydropower and other renewable energy (RE) projects in India and neighbouring countries. The partnership will also undertake distribution-related business, according to a statement from NTPC.

The joint venture agreement was signed on September 25 in the presence of NTPC Chairman Gurdeep Singh and Bernard Fontana, Chairman and Chief Executive Officer of EDF, the French electricity company. The arrangement combines the capabilities of India’s largest power utility with those of EDF Power Solutions India, a wholly owned subsidiary of EDF.

The partners intend to establish an industrial company focused on developing, building and operating low-carbon power plants. Its proposed activities will also cover flexibility solutions and transmission assets, supporting the integration and management of renewable electricity systems.

The venture will draw on the technical and operational expertise of both companies to develop projects suited to the requirements of India and nearby markets. Pumped storage facilities can support grid flexibility by storing electricity and releasing it when demand is high, while hydropower and other renewable projects can add low-carbon generation capacity.

The partnership aligns with India’s target of reaching 100 GW of installed pumped storage capacity by 2036. NTPC and EDF said their combined resources and experience would support decarbonisation, innovation and improved performance across electrical systems, while contributing to the expansion of India’s renewable energy market.