Team News Riveting
New Delhi, September 17
The Government has accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited and NTPC Limited to Build, Own and Operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act.
The NPCIL will have 51 per cent stake in the company while the NTPC Ltd. will hold the remaining 49 per cent share. Additionally, Government 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 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 and 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.
Department of Atomic Energy has formally handed over the Government approval to CMD, NPCIL and CMD, NTPC on Tuesday.
