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NTPC Limited, a Maharatna company of India and EDF India Private Limited, owned by Électricité de France SA, a French multinational electric utility company owned by the Government of France, have signed a non-binding Term Sheet and collaborated to  develop (including construction), own, operate and maintain pumped storage project(s) and/or any other hydro power project(s) or Hydro Project(s) bundled with other Renewable Energy projects and explore  opportunities in  distribution business. 

The agreement was signed by Mr Federico D’Amico, CEO (EDF India) and Shri J C Kakoti, GM-Hydro Engineering (NTPC) in the presence of Shri Gurdeep Singh, CMD (NTPC) and Mr Luc Rémont, Chairman and CEO (EDF France). The  MOU signing ceremony was graced by Shri Pankaj Agarwal, Secretary (Ministry of Power, GOI). Mr Patrick Charignon, Executive Vice President, APAC (EDF), Shri Goutam Deb, RED-Hydro (NTPC), Ms Sangeeta Kaushik, ED-Corporate Planning (NTPC) and senior officials from NTPC and EDF  were also present on the occasion.

Subsequent to the signing of the term sheet  on 23^rd February 2025, during Elecrama 2025, NTPC and EDF propose to form a JVC with 50: 50 Partnership after requisite approval from the Government of India.

This JVC  will undertake such Project(s) on its own and / or may create  JV and Subsidiaries (“Project SPV”) for undertaking such Project(s) within India and neighbouring countries.  Considering their domain expertise and resources, both NTPC & EDF are poised to contribute significantly to India's renewable energy landscape, driving innovation and fostering environmental stewardship and will leverage its expertise for tailormade offers, drive the decarbonization and global performance of electrical systems.

NTPC Ltd. is India's largest integrated power utility, contributing one-fourth of the India’s power requirements and has an installed capacity of over 77 GW, with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity. The company is committed to achieving 60 GW of renewable energy capacity by 2032.

With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is dedicated to delivering reliable, affordable, and sustainable electricity to the nation. The company is committed to adopting best practices, fostering innovation, and embracing clean energy technologies for a greener future.

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