Coal India, France's EDF Ink Pact to Boost Renewable Energy in South Asia

24 Feb 2025 , 11:59 AM

Coal India Corp plans to set up a joint venture with EDF India, a unit of France’s EDF, for renewable energy projects in South Asia, the state-run miner said on Monday. The partnership will mainly concentrate on the establishment of pumped-storage hydropower projects, and other renewable energy initiatives, in India and adjacent countries.

The two firms have executed a non-binding shareholders agreement to progress with the joint venture, Coal India said in a filing to stock exchanges on Sunday. The partnership will help speed India’s clean energy transition and draw from EDF’s expertise in renewable energy provision.

In addition, EDF also agreed with NTPC, a state-run power company in India, to enter a joint venture to develop hydropower projects and also explore opportunities in power distribution. NTPC-EDF joint venture will be a 50-50 entity and will work on hydropower development in India and neighbouring regions.

As India aims for 500 GW and 100 GW of Renewable Power by 2030, these collaborative strategies would add to a sustainable effort towards building a sustainable power structure across regions.