EDF India and Coal India Forge Joint Venture for Renewable Energy Push

EDF India and Coal India Limited have signed an agreement to create a Joint Venture Company, focusing on developing pumped storage projects potentially linked with renewable energy initiatives. This collaboration aims to support India's renewable energy goals while advancing innovation and environmental stewardship.

EDF India and Coal India Limited, a prominent Maharatna company, are joining forces to establish a Joint Venture Company (JVC). The newly formed partnership will focus on developing pumped storage projects integrated with renewable energy sources, marking a significant step in India's clean energy expansion.

Following the official signing of the Term Sheet, the two companies will collaborate to form a 50:50 Joint Venture. This venture holds the potential to execute projects independently or through additional joint ventures and subsidiaries. The initiative underscores India's commitment to renewable energy, fostering technological innovation and environmental responsibility.

Coal India Limited, headquartered in Kolkata, West Bengal, stands as the world's largest coal producer and operates extensively across eight states in India. EDF Group, known for its leadership in low-carbon energy, aims to create a net-zero energy future through innovative solutions. Both entities seek to propel India's energy transition with their combined expertise.

(With inputs from agencies.)