Coal India Limited, a Maharatna company of India, has signed a Term Sheet with DF India to establish a Joint Venture Company (JVC) aimed at developing pumped storage projects potentially integrated with renewable energy initiatives.
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Following the signing of the Term Sheet, both companies will work toward the formation of a 50:50 Joint Venture Company. The proposed JV may undertake projects independently or through the establishment of joint ventures and subsidiaries (Project SPV) for project execution within India and internationally.
This collaboration aligns with India’s ambitious clean energy goals and represents a significant step toward advancing the country’s renewable energy sector, fostering innovation, and promoting environmental stewardship.
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