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Hot Pursuit
24-Feb-25
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NTPC tie up with France's EDF for hydro and pumped storage projects
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NTPC and EDF India, a subsidiary of Électricité de France (EDF), have signed a non-binding term sheet to develop pumped storage, hydropower, and other renewable energy projects, as well as explore opportunities in the distribution business.
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NTPC and EDF propose to form a 50:50 joint venture (JVC) subject to the requisite approval from the Government of India. The JVC will be responsible for executing hydropower and pumped storage projects in India and neighboring countries, with provisions to establish subsidiaries or additional joint ventures for project implementation.
NTPC is India's largest energy conglomerate. It has a presence in the entire value chain of the power generation business. As of 30 September 2024, the Government of India holds 51.10% stakes in NTPC.
The company’s consolidated net profit declined 1.8% to Rs 5,062.51 crore on a 5.2% jump in net sales to Rs 45,052.82 crore in Q3 FY25 over Q3 FY24.
Shares of NTPC shed 0.57% to Rs 324.10 on the BSE.
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Mid-Session
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Hot Pursuit
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