NTPC, NPCIL form JV for nuclear power projects

A joint venture company between NTPC and Nuclear Power Corporation of India (NPCIL), Anushakti Vidhyut Nigam, has been incorporated for developing atomic power projects in the country.

NPCIL shall hold 51 per cent of the equity share capital and NTPC shall hold the balance 49 per cent of the equity share capital of Anushakti Vidhyut Nigam, NTPC said in a statement.

This company has been formed for the purpose of development of nuclear power projects in the country within the framework of Atomic Energy Act, 1962, the statement said.

A Memorandum of Understanding between NPCIL and NTPC was signed in February, last year.

Financial details as well as details such as the location and types of the plants to be constructed, will be finalised later.

NTPC has set a target of generating 2,000 Mw of nuclear power by 2020.

The NPCIL-NTPC joint venture would be the first joint venture in nuclear power generation in India. NPCIL is currently the sole agency generating nuclear power in the country with a capacity of about 4,120 Mw of the total over 1,60,000 Mw of the installed power generation capacity.