NTPC-NPCIL Joint Venture 'ASHVINI' gets Govt approval

Ranchi, Sept 17th 2024:  The Government on September 11, 2024 according 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) 4x700 MW based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI.

 

Read Also : REC Limited disburses Rs 90,955 crore loan in H1 FY25; Green loans up by 92.68% to Rs 11,297 crore

The Govt has also approved exemption to NPCIL to invest more than Rs.500 Cr. 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.         

Read Also : MRPL Awarded for Corporate Environment Excellence

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.

The Department of Atomic Energy formally handed over the Government approval to CMD, NPCIL and CMD, NTPC on 17.09.2024.

Read Also : Airtel deploys network in Jammu and Kashmir, Leh Ladakh for superior voice and data connectivity