In a significant development for the power sector, the state-run NTPC Limited has signed a memorandum of understanding (MoU) with the Électricité de France (EDF) to explore potential power project development opportunities in the Middle East, Asia, Europe and Africa.

EDF is one of the world's leading power sector companies and has its headquarters in Paris, the capital city of France.

"The MoU will bear witness to the cooperation between EDF, France and India’s largest power major NTPC for exploring power project development opportunities around regions of mutual interest like Middle-East, Europe and Africa," the Power Ministry said in a statement on Thursday (7 October).

The two companies will also collaborate for knowledge sharing, research and development, technical services and consultancy assignments globally.

NTPC expressed optimism about its collaboration with EDF and 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", the statement said.

On the same note, 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", it added.