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EDF India Partners with NTPC, Coal India, and Actis for Renewable Energy & Smart Metering

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

Key Partnerships & Project Scope

• NTPC Collaboration:
  • EDF proposes a 50:50 joint venture (JV) with NTPC for developing pumped storage projects (PSPs), standalone hydropower, and hybrid hydro-renewable energy projects.
  • NTPC will be responsible for the development, construction, ownership, operation, and maintenance of these projects.
• Coal India Partnership:
  • A separate JV with Coal India to undertake PSPs and other renewable projects in India and neighboring countries.
• Actis Collaboration:
  • EDF and Actis to create a dedicated platform for Advanced Metering Infrastructure (AMI) service provider concessions under India’s national smart metering project.
  • The platform aims to enhance operational efficiencies, reduce technical and commercial losses, and improve the financial sustainability of power distribution companies (DISCOMs).
  • December 2024: PFC Consulting invited bids to empanel AMI service providers under the revamped distribution sector program.

Policy & Market Context

• India’s Energy Storage Target (National Electricity Plan 2023):
  • 74 GW / 411 GWhof energy storage required by 2031-32.
  • PSP Contribution: 27 GW / 175 GWh
  • Battery Energy Storage:47 GW / 236 GWh
• Government Initiatives for PSPs & Hydropower:
  • Tariff-based competitive bidding introduced for procuring stored energy from PSPs.
  • Revised Budgetary Support (October 2024): Rs 12,460 croreallocated.
  • Support for 31 GW hydro capacity (15 GW PSPs) from 2024-25 to 2031-32.
  • Financial Aid:
    • Rs 1 crore/MWfor projects 200 MW
    • Rs 200 crore/MW for projects > 200 MW
    • Rs 1.5 crore/MW for exceptional cases