NTPC Limited and EDF Power Solutions India have entered a 50:50 joint venture to build and operate low-carbon energy infrastructure. The pact was formally executed on September 25, 2026.

The agreement was signed in the presence of NTPC chairman and managing director Gurdeep Singh and EDF SA chairman and CEO Bernard Fontana. EDF Power Solutions India is a wholly owned arm of French power firm EDF.

The venture will focus on the development, ownership and operation of pumped storage assets, hydroelectric installations, other renewable energy facilities and electricity distribution. The new entity can execute projects in India and neighbouring countries.

Pumped storage works like a giant water battery, storing energy by pumping water uphill and releasing it to generate power at peak demand. The technology is key to balancing India’s growing solar and wind capacity.

The partnership supports the government’s target of 100 gigawatts of installed pumped storage capacity by 2036, according to TradingView News.