(MC)
Coal India has announced plans to form a joint venture with EDF India, a subsidiary of France’s EDF, to develop renewable energy plants across South Asia. The collaboration will focus on setting up pumped-storage hydropower projects and other renewable energy initiatives in India and neighboring countries, according to a statement made by Coal India on Sunday.
The two companies have entered into a non-binding shareholders agreement to establish the joint venture, Coal India stated. 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.
