New Delhi, 18 September 2024: The Government accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) on 11th September 2024 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 17th September 2024.
