The Government on 11 September 2024 accorded approval to the Anushakti Vidhyut Nigam (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India (NPCIL with 51 per cent) and NTPC (49 per cent) 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 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 & 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.
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