Centre Accords Approval For NPCIL-NTPC JV Company 'ASHVINI' To Take Up Nuclear Power Generation

In a significant move to enhance the country's nuclear power capacity, the government has approved the formation of a joint venture, ASHVINI, between the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation (NTPC).

The Department of Atomic Energy (DAE) officially handed over the approval document for the joint venture, Anushakti Vidyut Nigam Limited (ASHVINI), to top officials of both state-run power companies on Tuesday, according to an official statement.

This will pave the way for pooling resources in terms of finance and expertise for the rapid expansion of nuclear power capacity to help India achieve its net zero goals by 2070.

ASHVINI, with a shareholding ratio of 51:49 between NPCIL and NTPC, will undertake nuclear power generation and associated activities as per the Atomic Energy Act of 1962. As a subsidiary of NPCIL, the venture has been authorised to build, own, and operate nuclear power plants nationwide.

Its first project will be the implementation of the 4x700 MW PHWR indigenous (Pressurised Heavy Water Reactors) at Mahi-Banswara, Rajasthan. In addition, ASHVINI is expected to construct the 1400 MW Chutka Madhya Pradesh Atomic Power Project in Chutka, Madhya Pradesh.