Team News Riveting
New Delhi, January 7
NTPC Limited Tuesday announced the incorporation of a new wholly owned subsidiary, NTPC Parmanu Urja Nigam Limited (NPUNL) as power major forays into nuclear business.
“In continuation to the letter dated 24.05.2024, it is hereby informed that “NTPC PARMANU URJA NIGAM LIMITED”, has been incorporated on 07.01.2025 as wholly owned subsidiary of NTPC Limited for undertaking Nuclear Energy Business,” NTPC Limited said in a regulatory filing.
The move marks a strategic step to diversify NTPC’s energy generation capabilities beyond conventional sources. The formation of new subsidiary is in line with the company’s long-term vision to use nuclear energy for the generation of electricity and other commercial purposes.
The subsidiary will be responsible for planning and executing integrated programs aimed at the development of nuclear energy. It will also handle the construction, operation, and management of nuclear power stations and related facilities across India.
The formation of NPUNL was approved by the Ministry of Power (MOP), Government of India, with concurrence from the Department of Investment and Public Asset Management (DIPAM) and NITI Aayog. It was conveyed through a formal letter on September 11, 2024.
