NTPC Ltd.

NTPC and EDF India, owned by Electricite 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 (RE) projects and explore opportunities in distribution business.

Subsequent to the signing of the term sheet on February 23, 2025, during Elecrama 2025, NTPC and EDF propose to form a Joint venture company (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 is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.