France's EDF and India's NTPC sign MoU to explore power project opportunities globally
NTPC said this collaboration would further increase its competitiveness
Électricité de France S.A. (EDF) and NTPC Ltd have signed a Memorandum of Understanding (MoU) to explore potential power project development opportunities in the Middle East, Asia, Europe and Africa.
EDF is one of the world’s leading power sector companies headquartered in Paris, while NTPC is India’s largest energy integrated company.
The two companies will also collaborate for knowledge sharing, R&D, technical services and consultancy assignments globally, said the Ministry of Power as it announced the MoU on Thursday.
It said EDF and NTPC will jointly explore the possibility of power project development in the countries of mutual interest, as well as exchange knowledge and technical expertise.
The parties will also explore collaboration around technical services, including international consultancy assignments, and will consider the possibility of pursuing pilot programmes in the clean energy sector together, the ministry added.
NTPC is ranked as the number 2 Independent Power Producer (IPP) in Platts Top 250 Global Energy Company Rankings.
The MoU was signed by both sides on Wednesday in the presence of India's Ambassador to France Jawed Ashraf and France's Ambassador to India Emmanuel Lenain.
"@ntpclimited & EDF MoU on collaboration towards a greener future is another key dimension of India France strategic partnership. Sustainable, affordable and efficient energy for all is our mutual endeavor, bilaterally and in Indo Pacific and Africa," said a tweet from the Indian Embassy in France.
"This MoU b/w @ntpclimited & @EDFofficiel brings together France and India's largest power groups to find the innovative solutions we need for the energy transition. Together, we can boost India's ambitious renewable energy targets & build smarter, more efficient & reliable grids," French Ambassador to India Emmanuel Lenain said on Twitter.
NTPC expressed optimism about its collaboration with EDF and said: "NTPC’s collaboration with EDF will further increase our competitiveness in the international markets. NTPC aims to expand its portfolio of power generation assets globally. This MoU supports our roadmap for the development of clean energy projects worldwide. We believe this alliance will bring multiple mutually constructive investment opportunities in the global markets".
The EDF stated: "We are excited to join forces with NTPC and work on low-carbon energy opportunities in India and other growth markets. Now operating in around 25 countries, EDF has a global track record and we look forward to unlocking further collaboration opportunities with NTPC".