From The Economic Times · PTI · · 1m 10s
NTPC EDF Renewable Pact
NTPC and EDF launch 50-50 joint venture for India's renewable energy projects.
In brief
NTPC and EDF launch 50-50 joint venture for India's renewable energy projects. State-owned NTPC and EDF Power Solutions India formed a 50:50 joint venture to develop pumped storage, hydropower, and renewable energy projects in India. Originally reported by The Economic Times.
NTPC and EDF sign pact
State-owned NTPC and EDF Power Solutions India joined hands to jointly develop, own and operate pumped storage projects, hydropower projects, and renewable energy projects in India.
50:50 joint venture
The joint venture agreement was signed on September 25 in the presence of NTPC Chairman Gurdeep Singh and Bernard Fontana, Chairman and CEO of EDF SA, France.
RE projects focus
NTPC and EDF Power Solutions will develop, build and operate low-carbon power plants and flexibility solutions aligned with India's 100 GW pumped storage capacity target by 2036.
Decarbonisation goal
The partnership aims to drive decarbonisation and global performance of electrical systems through tailored offers for India's renewable energy market.
Market impact
EDF and NTPC are expected to significantly contribute to India's renewable energy market by driving innovation and environmental stewardship.
The key point
State-owned NTPC and EDF Power Solutions India formed a 50:50 joint venture to develop pumped storage, hydropower, and renewable energy projects in India.
