The purpose of the joint venture is to undertake development, construction, operation and maintenance of renewable energy projects (solar, floating solar, PSP, wind and allied activities) in Uttar Pradesh and sale of power as per applicable law or policies. The shareholding of the JV company is 51% of Coal India Ltd (Balance 49% equity stake by U.P. Rajya Vidyut Utpadan Nigam Limited UPRVUNL).

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The MoUs were signed in the presence of Shri Suprakash Adhikari, Director (Technical), NHPC, by Shri Rajat Gupta, Executive Director (SBD & C), NHPC, along with Shri Rohit Yadav, Secretary (Energy), Government of Chhattisgarh, and Shri Sanjeev Kumar Katiyar, Managing Director of CSPGCL. The signing ceremony underscored a shared commitment to strengthening India’s energy infrastructure and promoting sustainable storage solutions.

Shri Rohit Yadav emphasized that these projects are a pivotal step in enhancing Chhattisgarh’s energy security and aligning with national energy goals. He highlighted that the development of such large-scale pumped storage facilities would not only support grid stability but also promote renewable energy integration in the state.

Shri Suprakash Adhikari reaffirmed NHPC’s dedication to advancing sustainable energy storage technologies. The projects are expected to play a crucial role in India’s transition towards cleaner energy sources, ensuring reliable power supply and contributing to the country’s climate commitments.

This collaboration signifies a major milestone in India’s renewable energy journey, leveraging innovative storage solutions to meet increasing energy demands while supporting environmental sustainability.

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This collaboration aims to form a Joint Venture Company to develop, own, operate, and maintain Pumped Storage Projects (PSP) and other Hydro -Projects and marks a significant step toward India’s transition to a cleaner and more sustainable energy future.

The Term Sheet was signed by our Director (Business Development), Shri Debasish Nanda and Mr. Federico D’Amico, Chief Executive Officer & Director, EDF India, in the presence of Shri Mohammad Afzal, Joint Secretary, Ministry of Power, and Mr. Luc Rémont, Chairman & Chief Executive Officer, EDF. Other senior officials from both companies were present on the occasion.

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