The Department of Atomic Energy, on September 17, 2024, formally handed over the government approval to Anushakti Vidhyut Nigam Ltd (ASHVINI) to the respective CMDs of Nuclear Power Corporation of India Ltd (NPCIL) and NTPC Ltd.
The Government on September 11, 2024 had accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a joint venture of NPCIL (equity: 51 per cent) and NTPC (equity: 49 per cent) to build, own & operate nuclear power plants in India, in accordance with provisions of the Atomic Energy Act.
Additionally, the Centre also approved 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 Union government has also approved exemption to NPCIL to invest more than Rs.500 crore and exemption to NTPC to invest more than Rs.5,000 crore 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 pooling of resources from both NTPC & NPCIL in terms of finances, technology and project expertise for the rapid expansion of nuclear power productivity in the country to meet the targets of Net Zero by 2070, a release by NTPC said.
Also read: NPCIL, BHEL sign agreement for PHWR technology
