Latest News | NTPC, EDF India Collaborate for PSP, Hydro Projects, to Explore Avenues in Distribution
Get latest articles and stories on Latest News at LatestLY. State-owned power giant NPTC and EDF India, an arm of French firm Electricite de France, have joined hands to set up pumped hydro storage and hydro projects bundled with renewable energy projects, and explore opportunities in the distribution business.
New Delhi, Feb 23 (PTI) State-owned power giant NPTC and EDF India, an arm of French firm Electricite de France, have joined hands to set up pumped hydro storage and hydro projects bundled with renewable energy projects, and explore opportunities in the distribution business.
NTPC and EDF India have signed a non-binding term sheet to develop, own, operate and maintain pumped storage projects and any other hydro-power projects, a statement said.
Under the agreement signed by the two entities on Sunday, NTPC and EDF propose to form a JVC with 50: 50 Partnership after requisite approval from the Government of India.
This JV company will undertake such projects on its own or may create JV 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 has an installed capacity of over 77 GW. EDF India is owned by Électricité de France SA, a French multinational electric utility company owned by the Government of France
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)