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Govt accords approval for NPCIL-NTPC JV Company “ASHVINI” to take up Nuclear Power Generation

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Govt accords approval for NPCIL-NTPC JV Company “ASHVINI” to take up Nuclear Power Generation

Govt accords approval for NPCIL-NTPC JV Company “ASHVINI” to take up Nuclear Power Generation
September 18
20:04 2024

By Payal Banarjee

New Delhi, Sept 17:  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  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 exemption to NPCIL to invest more than  Rs.500Cr. and exemption to NTPC to invest more than Rs.5000Cr. 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 & 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.

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