Indian energy company NTPC and French electric utility EDF have signed a memorandum of understanding (MoU) to explore power project development opportunities overseas.

The companies will primarily look into opportunities in Europe, Asia, the Middle East and Africa.

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In a statement, NTPC said: “NTPC’s collaboration with EDF will further increase our competitiveness in the international markets.

“NTPC aims to expand its portfolio of power generation assets globally. This MoU supports our roadmap for the development of clean energy projects worldwide.

“We believe this alliance will bring multiple mutually constructive investment opportunities in the global markets.”

In addition to power projects, EDF and NTPC will collaborate on research and development (R&D), technical services and consultancy assignments on a global scale.

The companies have agreed to share their technical experience and knowledge and will also consider the possibility of pursuing pilot programmes in the clean energy segment.

In a statement, EDF said: “We are excited to join forces with NTPC and work on low-carbon energy opportunities in India and other growth markets.

“Now operating in around 25 countries, EDF has a global track record and we look forward to unlocking further collaboration opportunities with NTPC.”

Last May, NTPC signed an MoU with Oil and Natural Gas Corporation (ONGC), an Indian multinational crude oil and gas company, to form a joint venture company for the renewable energy business.

The two companies agreed to explore and establish offshore wind and other renewable energy projects both in India and abroad.

Earlier this year, EDF submitted a binding techno-commercial offer to build six EPR reactors at a nuclear power plant in Maharashtra, India.

The 9.6GW Jaitapur Nuclear Power Plant is expected to generate up to 75TWh of electricity a year, enough to power 70 million Indian households.

The plant will also offset 80 million tonnes of carbon emissions a year.