The Govt has also approved an exemption to NPCIL to invest more than Rs.500 Cr. and exemption to NTPC to invest more than Rs. 5000 Cr. in a single JV/Subsidiary Company.
The Government on September 11, 2024, accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) to Build, Own & Operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act.
Additionally, Govt. of India has approved the transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4×700 MWe based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI.
The Govt has also approved an exemption to NPCIL to invest more than Rs.500 Cr. and exemption to NTPC to invest more than Rs. 5000 Cr. in a single JV/Subsidiary Company. This will enable adequate financing for accelerated Nuclear Power capacity addition in India. In addition to MBRAPP, ASHVINI shall also pursue other Nuclear Power Projects in different parts of the country.
This will pave the way for the pooling of resources from both NTPC & NPCIL, in terms of finances, technology & project expertise for the rapid expansion of nuclear power productivity in the country to meet the targets of Net Zero by 2070.
Department of Atomic Energy has formally handed over the Government approval to CMD, NPCIL and CMD, NTPC on 17.09.2024.
Source: India CSR