Government greenlights NPCIL-NTPC joint venture for nuclear power plants; check details

The central government has approved the joint venture between Nuclear Power Corporation of India Limited (NPCIL) and NTPC to establish nuclear power plants.

In the JV entity NPCIL holds 51% stake and NTPC has 49% ownership.

Additionally, the Government has approved the transfer of the Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) consisting of four 700 MWe reactors based on indigenous Pressurized Heavy Water Reactor (PHWR) technology from NPCIL to ASHVINI.

Moreover, the government has exempted NPCIL from investing over ₹500 crore and NTPC from investing more than ₹5,000 crore in a single joint venture or subsidiary.

This financial flexibility will support the accelerated expansion of nuclear power capacity in India. Beyond MBRAPP, ASHVINI aims to pursue other nuclear projects across the country.

This initiative will facilitate the pooling of resources like financial, technological and expertise from both NTPC and NPCIL contributing to the rapid growth of nuclear power generation to help meet India's net zero target by 2070, a statement from NPCIL read.

India has established an ambitious goal to reach 22,800 MW of nuclear power capacity by 2031-32, significantly up from the current capacity of 8,180 MW.

Earlier this month on September 10, NPCIL and the Emirates Nuclear Energy Corporation (ENEC) of the United Arab Emirates (UAE) signed a MoU in the field of the operations and maintenance of the nuclear power plant.

The Memorandum of Understanding was signed by Bhuwan Chandra Pathak Chairman and Managing Director of the Nuclear Power Corporation of India Limited (NPCIL), and Mohamed Al Hammadi, Managing Director and Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC).

NTPC Limited shares closed 0.60% lower at ₹413.80 apiece on the NSE.