Coal India Limited and EDF India have announced a strategic partnership to establish a Joint Venture Company (JVC) focused on developing pumped storage projects in India. The companies have signed a Term Sheet to jointly create a 50:50 venture, which may also integrate renewable energy projects.
The newly formed JVC will explore opportunities to develop projects both independently and through the creation of project-specific subsidiaries (Project SPVs) for domestic and international execution. Following the signing of the Term Sheet, both companies will work together to establish a 50:50 Joint Venture (JV) aimed at executing projects both independently and through the creation of joint ventures and subsidiaries, known as “Project SPVs,” for project execution within India and internationally.
This partnership aligns with India’s ambitious clean energy objectives and represents a major step in advancing the country’s renewable energy sector, encouraging innovation, and supporting environmental sustainability. Coal India Limited (CIL), a ‘Maharatna’ company under the Ministry of Coal, Government of India, is headquartered in Kolkata, West Bengal, and stands as the world’s largest coal producer. CIL operates in 84 mining areas across eight Indian states, managing 313 active mines, including 131 underground, 168 opencast, and 14 mixed mines.
The EDF Group, a global leader in the energy transition, operates as an integrated energy provider, covering power generation, distribution, trading, energy sales, and services. With a focus on low-carbon energy, EDF produces 490 TWh of energy annually, mainly from nuclear and renewable sources, including hydropower.
The company is also investing in cutting-edge technologies to support the energy transition. EDF’s mission is to build a net-zero energy future through electricity, innovative solutions, and services, promoting both environmental preservation and economic growth. The Group serves approximately 41.5 million customers and reported consolidated sales of €118.7 billion in 2024.
