India and France on Friday discussed deepening cooperation in non-fossil fuel sources, including Nuclear power, with state-run NTPC signing a 50:50 joint venture (JV) agreement with EDF Power Solutions India to develop, own and operate clean energy projects in the Indian sub-continent.
The JV firm, with the Indian arm of French power major EDF, is eyeing pumped storage projects, hydro power projects, other renewable energy projects and distribution business within India and neighbouring countries. It was signed in presence of NTPC CMD Gurdeep Singh and Bernard Fontana, the Chairman and CEO of EDF.
The agreement signing was part of a larger meeting between India and France with Power Secretary Pankaj Agarwal, and Fontana reviewing the ongoing engagement between India and EDF on the proposed deployment of European Pressurised Reactors (EPRs) in India.
The meeting was attended by officials from the Ministry of Power, the Ministry of External Affairs, Central Electricity Authority (CEA), NTPC and Nuclear Power Corporation of India (NPCIL) on the Indian side, and by officials of EDF and the Embassy of France in India on the French side.
The discussions centred on the deployment of EPR technology, India’s regulatory reforms for the nuclear sector, cooperation on pumped hydro storage projects, and the way forward for a robust, mutually beneficial partnership.
EDF apprised the Indian side of its efforts to build an ecosystem and supply chain in India for large-scale localisation, and reiterated that a sizeable programme with multiple nuclear reactors would give suppliers confidence and enable economies of scale by leveraging Indian industry’s capabilities.
Agarwal briefed the French side on the progress made in finalising India’s regulatory framework for the nuclear power sector, including the draft SHANTI (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India) Rules and Regulations, placed by the Department of Atomic Energy in the public domain for stakeholder consultation.
The Rules provide for a streamlined, time-bound licensing framework and enable participation of private and foreign partners in India’s nuclear power programme.
In April 2026, NTPC and EDF signed a Non-Binding MoU to explore cooperation in developing new nuclear power projects in India. This follows approval from the concerned ministries & departments of the Government of India.
The MoU established a framework for both companies to jointly assess the feasibility and approach for collaboration, including understanding EDF’s EPR technology and its suitability for Indian requirements, exploring opportunities to maximize localization for large-scale deployment, examining economic and tariff aspects, developing human resource capabilities through training programmes, evaluating potential project sites, and providing technical support as mutually agreed.
“Through this strategic partnership, NTPC and EDF Power Solutions are committed to establish a responsible and innovative industrial company to develop, build and operate low carbon power plants as well as flexibility solutions and transmission assets.
EDF power solutions and NTPC will leverage their respective expertise to provide tailor-made offers, drive the decarbonisation and global performance of electrical systems, aligned with India’s ambitious goals of 100 GW installed capacity of pumped storage projects by 2036.
Considering their domain of expertise and resources, both entities are poised to contribute significantly to India’s renewable energy market, driving innovation and fostering environmental stewardship.
In February 2025, NTPC and EDF India had signed a non-binding Term Sheet and collaborated to develop (including construction), own, operate and maintain pumped storage projects and/or any other hydro power projects or Hydro Projects bundled with other Renewable Energy projects and explore opportunities in distribution business.
After signing of the term sheet, both companies had proposed to form a JV company with 50: 50 partnership after requisite approval from the Government of India.
Published on September 26, 2026
