Industry Odisha Bureau, Sep26: As India adds more renewable energy, storing power is becoming as important as generating it. State-owned NTPC has now teamed up with EDF Power Solutions India to address that need. The two will develop, own and operate pumped storage projects through a joint venture.
Ownership is split evenly, with each partner holding 50%. Neither side controls the venture. EDF Power Solutions is a fully owned subsidiary of French utility EDF. The agreement was signed on September 25, 2026. NTPC Chairman Gurdeep Singh and EDF Chairman and CEO Bernard Fontana attended.
How Water Becomes a Battery
Pumped-storage hydropower applies a simple idea on a large scale. When electricity is plentiful, it is used to pump water uphill. The water sits in an upper reservoir, holding stored energy. When power is needed, the water flows back down through turbines. Those turbines generate electricity for the grid. In effect, the system shifts energy from one time to another.
Why the Grid Needs Flexibility
Solar and wind output varies with sunlight and weather. Demand, however, does not always rise and fall in step. Grid operators must balance supply and demand continuously. Pumped storage offers one way to do that at grid scale. It can absorb surplus renewable power and release it later. As renewable capacity grows, such balancing tools gain strategic value.
A 100 GW National Ambition
India aims to reach 100 GW of installed pumped-storage capacity by 2036. That national target gives the new venture its clearest market context. It signals a long-term build-out of storage infrastructure. The target, however, belongs to India, not the joint venture. No project capacity has been disclosed for the partnership.
More Than Storage
Pumped storage is central, but the mandate is wider. The venture can also develop hydropower and other renewable energy projects. Electricity distribution businesses fall within its scope. The partners also aim to build low-carbon power plants. Flexibility solutions and transmission assets are included too. The breadth suggests an ambition to work across the power value chain.
India First, Neighbours in Scope
The venture can undertake projects in India and neighbouring countries. No overseas projects or partner nations have been identified yet. For now, the regional reach is a mandate, not a pipeline.
Key Details Still Missing
Much about the venture remains unclear. No investment commitments, project sites or construction schedules have been disclosed. Financing plans and revenue targets are also absent. A joint venture agreement does not itself add generating or storage capacity. That will come only when projects are built and commissioned.
From Clean Power to Flexible Power
India’s energy transition is no longer only about adding solar and wind. It increasingly depends on keeping the grid stable as renewables grow. The NTPC-EDF joint venture places both firms within that opportunity. Its real significance will depend on execution. Turning a signed agreement into operating projects is the next test.
