EDF India has signed non-binding term sheets with NTPC, Coal India (CIL), and global investor Actis to promote renewable energy projects in India.

Under this partnership, NTPC will develop, construct, own, operate, and maintain pumped storage projects (PSPs), standalone hydropower, and hydropower projects bundled with other renewable energy power projects.

EDF has proposed a 50:50 joint venture (JV) with NTPC. It also signed a separate JV agreement with Coal India to undertake PSPs and other renewable energy projects in India and its neighboring countries.

According to the National Electricity Plan 2023, India needs approximately 74 GW/411 GWh of energy storage systems by 2031-32. This includes 27 GW/175 GWh from PSPs and 47 GW/236 GWh from battery energy storage systems.

The Ministry of Power recently issued tariff-based competitive bidding guidelines to procure stored energy from existing, under-construction, or new PSPs.

In October 2024, the government modified the provision of budgetary support for hydroelectric and pumped storage projects, with a total outlay of ₹124.6 billion (~$1.48 billion). The ministry will support projects of a cumulative hydroelectric capacity of 31 GW, including 15 GW of PSP capacity from the financial year 2024-25 to 2031-32.

The budgetary support is capped at ₹10 million (~$119,126)/MW for projects up to 200 MW and ₹2 billion (~$23.81 million) plus ₹7.5 million (~$89,345)/MW for projects exceeding 200 MW, with a potential increase to ₹15 million (~$178,676)/MW in exceptional cases.

In another agreement, EDF is partnering with Actis to operate a dedicated platform for advanced metering infrastructure service provider concessions.

The Indian government is driving the national smart metering project under the revamped distribution sector program. Advanced metering solutions are designed to enhance operational efficiencies, reduce aggregate technical and commercial losses, and improve the financial sustainability of power distribution companies.

In December 2024, PFC Consulting invited bids to empanel advanced metering infrastructure service providers to implement smart prepaid metering under the revamped distribution sector program.