NTPC Limited and EDF India Private Limited have signed a non-binding term sheet to develop pumped storage and hydro power projects along with other renewable energy initiatives in India and neighboring countries.
As part of this collaboration, NTPC and EDF will establish a 50:50 joint venture company (JVC) after receiving the requisite approval from the central government. The JVC will develop, own, operate, and maintain hydro and pumped storage projects, with potential for creating subsidiaries for executing projects across the region.