NTPC, India’s state-run power utility, and EDF, the French electricity company, have formed an fifty-fifty joint venture to develop, own, and operate clean-energy projects in India.
NTPC and EDF Power Solutions India, a wholly owned Indian arm of EDF, signed the venture on September 25. It will pursue pumped-storage projects, hydropower plants, other renewable-energy projects, and electricity distribution, both within India and in neighboring countries, according to The Hindu BusinessLine. Gurdeep Singh, Chairman and Managing Director of NTPC, and Bernard Fontana, Chairman and CEO of EDF SA, signed it in person.
The signing was part of a broader meeting between officials from India and France that also covered nuclear power cooperation, including the deployment of EDF’s nuclear reactor technology and India’s draft rules for opening its nuclear sector to private and foreign partners. Pankaj Agarwal, India’s Power Secretary, took part in the discussion, along with officials from the Ministry of Power, the Ministry of External Affairs, and the Nuclear Power Corporation of India, and from EDF and the French Embassy in India.
The joint venture’s goal is to help India reach 100 gigawatts of installed pumped-storage capacity by 2036, one part of the country’s broader push into low-carbon power. For American and European companies watching India’s energy sector, the NTPC-EDF partnership is a sign of how deep foreign utilities are now willing to go in India: not a single project, but a standing joint venture, built on top of a pumped-storage and hydropower relationship running since early 2025, with a separate track on nuclear cooperation now under discussion as well.
