Coal India and France's EDF to form renewables joint venture
Coal India will establish a joint venture with an arm of France's EDF to build renewable power plants in South Asian countries, it said on Sunday.
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The joint venture between Coal India and EDF India, will set up pumped-storage hydropower projects and other renewable energy projects in India and neighbouring countries, Coal India said in a stock exchange announcement.
The two companies have signed a non-binding shareholders agreement to form the joint venture, it said.
EDF also signed a joint venture agreement with state-run Indian power company NTPC to set up hydropower projects and explore opportunities in power distribution, an NTPC statement said.
The 50-50 joint venture will set up projects within India and neighbouring countries, the statement said.
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