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Nuclear Power Corporation of India Ltd. (NPCIL) and NTPC Ltd.’s joint venture unit Anushakti Vidyut Nigam Ltd. (Ashwini) has been approved to set up nuclear power plants in the country under the provisions of the Atomic Energy Act. In this joint venture, NPCIL has a 51 percent stake and NTPC Ltd. has a 49 percent stake.
New Delhi. The government has approved Nuclear Power Corporation of India Ltd. (NPCIL) and NTPC Ltd.’s joint venture Anushakti Vidyut Nigam Ltd. (Ashwini) to set up nuclear power plants in the country under the provisions of the Atomic Energy Act. NTPC said in a statement on Tuesday that the government gave this approval on September 11, 2024. In this joint venture, NPCIL has a 51 percent stake and NTPC Ltd. has a 49 percent stake.
According to the statement, the government has also approved the transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) from NPCIL to joint venture company ‘Ashwini’. This project has four units of 700-700 MW each. It is based on indigenous PHWR (Pressurized Heavy Water Reactor) technology. The government has also given exemption to NPCIL to invest Rs 500 crore and NTPC to invest more than Rs 5,000 crore.
Companies can make these investments in a single joint venture / subsidiary company. This will enable adequate financing for rapid nuclear power capacity addition in India, the release said. Apart from MBRAPP, ‘Ashwini’ will also work on other nuclear power projects in different parts of the country. The Department of Atomic Energy formally handed over the government approval letter to the Chairman and Managing Director (CMD) of NPCIL and NTPC on September 17, 2024.
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