NPCIL-NTPC JV gets Centre’s nod to set up nuclear power plants

Anushakti Vidhyut Nigam Limited, the JV entity of NPCIL and NTPC, has received the approval from the govt to build, own and operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act 1962.

Hyderabad: The Union government has approved a joint venture between Nuclear Power Corporation of India Limited (NPCIL) and NTPC to establish nuclear power plants.

Anushakti Vidhyut Nigam Limited (ASHVINI), the JV entity of NPCIL and NTPC, has received the approval from the government to build, own and operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act 1962. The Department of Atomic Energy handed over the document approving the joint venture on Tuesday, an official statement said.In the JV entity NPCIL holds 51 percent stake and NTPC has 49 percent ownership.

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Additionally, the centre has approved the transfer of the Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) consisting of four 700 MW reactors based on indigenous Pressurized Heavy Water Reactor (PHWR) technology from NPCIL to ASHVINI.

Moreover, the government has exempted NPCIL from investing over Rs. 500 crore and NTPC from investing more than Rs.5,000 crore in a single joint venture or subsidiary. This financial flexibility will support the accelerated expansion of nuclear power capacity in India. Beyond MBRAPP, ASHVINI aims to pursue other nuclear projects across the country.

This initiative will facilitate the pooling of resources like financial, technological and expertise from both NTPC and NPCIL contributing to the rapid growth of nuclear power generation to help meet India’s net zero target by 2070, the statement said.

India has established an ambitious goal to reach 22,800 MW of nuclear power capacity by 2031-32, significantly up from the current capacity of 8,180 MW.