Govt accords approval for NPCIL NTPC JV company ASHVINI to take up Nuclear Power Generation
Published on : Thursday 19-09-2024
Additionally Govt of India has approved transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) from NPCIL to the JV Company ASHVINI.
New Delhi, September 17, 2024: The Government on September 11, 2024 accorded approval to the AnushaktiVidhyut 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 transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4x700 MWe based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI.
The Govt has also approved exemption to NPCIL to invest more than Rs 500 crore and exemption to NTPC to invest more than Rs 5000 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.
The Department of Atomic Energy has formally handed over the Government approval to CMD, NPCIL and CMD, NTPC on 17.09. 2024.
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