NTPC board clears pumped storage JV and Mauritius subsidiary

In a regulatory filing dated 23 December 2025, NTPC Limited stated that its board of directors granted in principle approval to form a 50:50 joint venture in India with EDF Power Solutions India Private Limited. The proposed joint venture will focus on the development of Pumped Storage Plants (PSP), which support large scale energy storage and the integration of renewable energy into the power grid.

NTPC stated that in February, it had signed a non-binding term sheet with EDF India to collaborate on pumped storage and hydro projects integrated with renewable energy initiatives. The partnership will also explore opportunities in power distribution. The joint venture, subject to approval from the Government of India, will execute hydro and pumped storage projects in India and neighbouring countries and may set up subsidiaries or additional joint ventures for project implementation.

At the same meeting, the board also approved the incorporation of a wholly owned subsidiary in Mauritius. The overseas entity will be set up to develop power projects in the region, including Floating Solar Photovoltaic (FSPV) projects.

NTPC said both proposals are subject to approvals from the Ministry of Power, the Department of Investment and Public Asset Management (DIPAM), and other applicable statutory authorities.  

The featured photograph (Source: NTPC) is for representation only.