New Delhi (India), February 23: Coal India Limited has entered into a partnership with EDF India Private Limited to establish a joint venture aimed at undertaking Power Supply Projects (PSP) and other renewable energy initiatives in India and neighboring countries.
As per a filing with the stock exchanges, Coal India stated that the joint venture will focus on the development of PSP and renewable energy projects. EDF India Private Limited is a fully owned subsidiary of Electricite de France SA (EDF), a global leader in energy solutions.
The agreement between Coal India and EDF India was formalized through a Non-Binding Shareholders Agreement (SHA) term sheet executed on Sunday. The partnership is expected to strengthen both companies’ positions in the growing renewable energy market in India and the surrounding region.