NTPC-NPCIL Joint Venture 'ASHVINI' gets Govt approval
Alos, Govt. of India has approved transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4x700 MW based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI.
Ranchi, Sept 17th 2024: The Government on September 11, 2024 according approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) 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 MW based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI.
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The Govt has also approved exemption to NPCIL to invest more than Rs.500 Cr. and exemption to NTPC to invest more than Rs.5000Cr. 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.
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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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