New Delhi, Feb 24 Government-owned power giant NTPC and EDF India, a subsidiary of France’s Electricite de France, have entered into a partnership to set up pumped hydro storage and hydro projects bundled with renewable energy initiatives along with exploring opportunities in the distribution business.
“NTPC and EDF India have signed a non-binding term sheet to develop, own, operate and maintain pumped storage projects and any other hydro-power projects,” according to a joint statement issued by the two companies.
The agreement was signed by Federico D’Amico, CEO of EDF India, and JC Kakoti, NTPC’s GM Hydro Engineering. NTPC Chairman and Managing Director Gurdeep Singh and EDF France Chairman and CEO Luc Remont. Power Secretary Pankaj Agarwal and senior ministry officials were also present on the occasion.
Under the agreement signed by the two companies on February 23, NTPC and EDF propose to form a JVC with a 50:50 partnership after requisite approval from the Government of India.
This JV company will undertake such projects on its own or may create JV and subsidiaries for undertaking such projects within India and neighbouring countries, the statement said.
EDF India is owned by Électricité de France SA, a French multinational electric utility company owned by the Government of France.
The agreement was signed on the sidelines of the global ELECRAMA 2025 summit held in Greater Noida on the outskirts of Delhi.
Speaking at the summit, Chairman Gurdeep Singh emphasised NTPC’s commitment to enhancing energy efficiency, scaling renewable capacity, and integrating AI-driven power management solutions.
He said, "ELECRAMA 2025 is a testament to India’s rapidly evolving power sector. The vast array of innovative products and machinery on display highlights the success of the 'Make in India' initiative.”
"With a strong manufacturing ecosystem and increasing global participation, India is well-positioned to not only meet its domestic energy needs but also emerge as a key exporter of high-quality power equipment. NTPC is committed to driving this transformation by optimising thermal efficiency, expanding renewable energy capacity, and leveraging cutting-edge technology," he added.
Further shaping the global conversation on power sector advancements, ELECRAMA 2025 also witnessed the formal inauguration of the World Utility Summit (WUS)—a high-impact forum designed to drive strategic dialogues on energy transition, decarbonisation strategies, AI-driven power management, and the future of utilities.
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