NEW DELHI: NTPC Limited, India’s largest integrated power utility, has announced two major strategic initiatives following its board meeting today. The company is set to significantly bolster its renewable energy storage capacity in India and expand its international footprint with a new base in the Indian Ocean.

Strategic Partnership for Energy Storage

The Board has approved the formation of a 50:50 Joint Venture (JV) with EDF Power Solutions India Private Limited. This partnership will focus on the development of Pumped Storage Plants (PSP) across India. As India integrates more solar and wind energy into the grid, PSPs act as massive "water batteries," providing the necessary storage to maintain grid stability during non-sunny or non-windy hours.

International Foray into Floating Solar

In a move to strengthen its global presence, NTPC will establish a wholly-owned subsidiary in Mauritius. This new entity is tasked with developing power projects in the island nation, with a specific focus on Floating Solar Photovoltaic (FSPV) technology. Floating solar is a key area of expertise for NTPC, offering an efficient way to generate clean energy without competing for limited land resources—a critical factor for island geographies.

Regulatory Pathway and Compliance

Both initiatives are subject to necessary approvals from the Ministry of Power, DIPAM, and other relevant statutory authorities. The Board meeting, which concluded at 7:45 PM, marks a decisive step in NTPC’s transition toward becoming a dominant force in the green energy sector, both domestically and internationally.

Key Highlights at a Glance

• JV Partner: EDF Power Solutions India Private Limited (50:50 Equity).

• Focus Area (India): Pumped Storage Plants (PSP) for long-duration energy storage.

• International Move: Wholly-owned subsidiary to be incorporated in Mauritius.

• Focus Area (Mauritius): Power projects including Floating Solar (FSPV).

• Scrip Codes: BSE: 532555 | NSE: NTPC | ISIN: INE733E01010.