NTPC, EDF India collaborate for PSP to explore avenues in distribution – EQ
In Short : NTPC and EDF India have partnered to develop pumped storage and hydroelectric projects, including renewable energy integration. The collaboration will also explore opportunities in power distribution. A proposed 50:50 joint venture aims to undertake projects in India and neighboring countries, enhancing sustainable energy solutions and boosting the region’s power infrastructure.
In Detail : State-owned power giant NPTC and EDF India, an arm of French firm Electricite de France, have joined hands to set up pumped hydro storage and hydro projects bundled with renewable energy projects, and explore 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, a statement said.
Under the agreement signed by the two entities on Sunday, NTPC and EDF propose to form a JVC with 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. The JV will also develop hydro projects bundled with other Renewable Energy projects and explore opportunities in the distribution business..
NTPC Ltd is India’s largest integrated power utility, contributing one-fourth of India’s power requirements and has an installed capacity of over 77 GW.
