NTPC strengthens its partnership with EDF France to develop hydro and renewable energy projects in India. This collaboration aims to enhance India’s green energy capacity and drive sustainable growth, the company said in a press release on the stock exchanges.
In a significant move towards strengthening India’s renewable energy sector, NTPC Limited, a Maharatna company of India, and EDF India Private Limited, a subsidiary of the French multinational electric utility Électricité de France (EDF), have signed a non-binding term sheet to collaborate on pumped storage, hydro power projects, and other renewable energy opportunities.
Under this partnership, NTPC and EDF will jointly develop, own, operate, and maintain pumped storage projects, hydro power ventures, and bundled renewable energy solutions. The collaboration also extends to exploring distribution business opportunities.
Following the signing of the term sheet, the companies propose to establish a Joint Venture Company (JVC) with a 50:50 partnership, subject to approvals from the Government of India. This JVC will independently undertake projects or create Special Purpose Vehicles (SPVs) for executing hydro and renewable energy projects across India and neighbouring countries.
NTPC, which contributes nearly one-fourth of India’s power supply, currently has an installed capacity exceeding 77 GW, with an additional 29.5 GW under construction, including 9.6 GW dedicated to renewable energy projects.
The company has set an ambitious target of achieving 60 GW of renewable energy capacity by 2032.
NTPC Limited’s share price stood at ₹322.85 as of February 24, 2025, reflecting a decline of ₹3.40 (-1.04%) at 10:00 AM on the NSE, from its previous close of ₹326.25. The stock opened at ₹322.10 and reached an intraday high of ₹324.10 before hitting a low of ₹321.00. The volume-weighted average price (VWAP) for the session was ₹322.49.
NTPC’s collaboration with EDF France marks a significant step toward strengthening India’s renewable energy sector. By focusing on hydro and pumped storage projects, this partnership aligns with NTPC’s long-term vision of achieving 60 GW of renewable energy capacity by 2032.
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Published on: Feb 24, 2025, 10:10 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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