Non-binding shareholder agreements were signed on 23 February during the ELECRAMA 2025 Summit in Greater Noida, Delhi, with Coal India, India’s state-run coal producer, as well as NTPC, formerly known as the National Thermal Power Corporation, the country’s largest integrated power producer. The terms set out a framework for the companies to build, own, operate, and maintain pumped-storage and hydropower projects jointly in India and neighbouring countries, according to separate announcements. Joint ventures on a 50-50 basis will be set up after the requisite approval from the Government of India. Details of the individual projects are not yet available.
The Term Sheet between Coal India and EDF India was signed by Debasish Nanda, Coal India’s Director for Business Development, and Federico D’Amico, CEO of EDF India, in the presence of Mohammad Afzal, Joint Secretary, Ministry of Power, and Luc Rémont, Chairman and CEO of EDF.
The Indian subsidiary of EDF also signed a non-binding term sheet with NTPC to develop, own, operate and maintain pumped-storage project(s) and/or any other hydro project(s), or hydro schemes bundled with other renewable energy projects, and explore opportunities in power distribution, according to NTPC. The 50-50 joint venture will set up projects within India and neighbouring countries. This agreement was signed by Federico D’Amico and J.C. Kakoti, General Manager of Hydro Engineering at NTPC, in the presence of Gurdeep Singh, Chief Managing Director of NTPC and Luc Rémont, Chairman and CEO of EDF France.
NTPC, an Indian Central Public Sector Undertaking under the ownership of the Ministry of Power and the Government of India, is the country’s largest integrated power utility, with an installed capacity of more than 77 GW, contributing around 25 per cent of India’s power requirements. The group has an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity. The company is committed to implementing 60 GW of renewable energy capacity by 2032.
EDF, which has been active in India since 1993, has investments in 18 solar and wind projects across the country, amounting to 2.8 GW.
