Coal India Ltd and EDF India, have signed a Term Sheet to establish a Joint Venture Company (JVC). 

This partnership aims to develop pumped storage project(s), potentially integrated with Renewable Energy projects. 

According to CIL, the signing of the Term Sheet, both companies will work towards the formation of a 50:50 Joint Venture Company. 

Reports said that the proposed JV may undertake projects independently. Another way forward for the JV would be to jointly work through the establishment of joint ventures and subsidiaries (“Project SPVs”) for project execution within India and internationally.