NTPC, EDF sign pact to develop RE projects in India

admin — Sat, 26 Sep 2026 17:49:00 +0000

This image is used for representational purpose only.
| Photo Credit: Reuters

State-owned NTPC and EDF Power Solutions India have joined hands to jointly develop, own and operate pumped storage projects and hydropower projects, as well as other renewable energy (RE) projects and distribution business.

This 50:50 JV shall undertake projects within India and neighbouring countries, NTPC said in a statement.

The joint venture (JV) agreement was signed on September 25 in the presence of NTPC Chairman Gurdeep Singh and Bernard Fontana, Chairman and CEO of EDF SA, France.

Through this strategic partnership, NTPC and EDF Power Solutions, a fully owned subsidiary of the French electricity company EDF (Electricite de France), are committed to establishing a responsible and innovative industrial company to develop, build and operate low-carbon power plants, as well as flexibility solutions and transmission assets.

EDF 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 expertise and resources, both entities are poised to contribute significantly to India’s renewable energy market, driving innovation and fostering environmental stewardship.

Published – September 26, 2026 11:19 pm IST

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Centre to nudge banks to fund renewable energy projects

admin — Wed, 11 Sep 2024 14:02:13 +0000

The Centre has decided to nudge banks to fund the renewable energy projects in the country.
| Photo Credit: B. JOTHI RAMALINGAM

To help meet India’s ₹30 trillion funding requirements for installing 500 GW of non-fossil fuel capacity by 2030, the Ministry of New and Renewable Energy is in talks with financial institutions, public and private sector banks, urging them to commit a portion of their loans to renewable energy projects.

At the forthcoming Re-Invest summit, scheduled in Gandhinagar next week, all major banks and financial institutions will be giving “shapath patra” (promissory notes) about their proposed loans or funding plans in the renewable energy sector, Pralhad Joshi, Minister for New and Renewable Energy, said at a press briefing on Wednesday (September 10, 2024). Such “shapath patra” would be given by developers, manufacturers and private equity investors, he added.

“We have not specified any targets but banks are expected to give firm commitments. Only with the participation of banks and industry can India hope to attract finance to facilitate the renewable energy sector,” said Mr. Joshi.

Prime Minister, Narendra Modi, is scheduled to inaugurate the conference.

Also read:The challenges of renewable energy

In a statement to the Rajya Sabha last year, R.K. Singh, former Renewable Energy Minister, said that the Reserve Bank of India had included bank loans up to a limit of ₹30 crore to borrowers for purposes like solar-based power generators, biomass-based power generators, windmills, micro-hydel plants and for renewable energy-based public utilities, under Priority Sector Lending classification. However, actual terms and conditions of the loans, including the requirement of collateral security, vary among different banks/financial institutions based on factors such as exposure of banks/institutions to the sector, creditworthiness of the borrower, and risk perception.

Published – September 11, 2024 07:32 pm IST

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renewable energy projects – Artifex.News

NTPC, EDF sign pact to develop RE projects in India

Centre to nudge banks to fund renewable energy projects