NTPC Ltd and EDF India join hands to explore opportunities in distribution business
NTPC and EDF intend to establish a joint venture with a 50:50 partnership, subject to the Government of India's sanction, under the agreement they signed on Sunday.
NTPC Ltd and EDF India join hands to explore opportunities in distribution business
State-owned power colossus NPTC and EDF India, an arm of French firm Electricite de France, have partnered to establish pumped hydro storage and hydro projects that are integrated with renewable energy projects, as well as to investigate opportunities in the distribution business.
A non-binding term document has been executed by NTPC and EDF India to facilitate the development, ownership, operation, and maintenance of pumped storage projects and any other hydropower projects, according to a press release.
NTPC and EDF intend to establish a joint venture with a 50:50 partnership, subject to the Government of India's sanction, under the agreement they signed on Sunday.
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This JV company will undertake such projects on its own or may create JVs 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 having an installed capacity of over 77 GW.
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