NTPC, NPCIL to invest ₹42K cr in 2,800 MW nuclear power plant in Rajasthan

The partners will pool in financial, technological, and project expertise for the project which entails an investment of around ₹42,000 crore, NTPC said in a statement

The 2,800 MW Mahi Banswara Rajasthan Atomic Power Project, developed by a NPCIL-NTPC joint venture at an investment of around Rs 42,000 crore in Rajasthan, will be one of the largest nuclear plants in the country, supplying reliable base load energy, power major NTPC said on Thursday.

Prime Minister Narendra Modi on Thursday inaugurated the nuclear project along with other energy projects having a combined investment value of over Rs 51,000 crore in Rajasthan.

Modi laid the foundation stone of 4X700 MW Mahi Banswara Rajasthan Atomic Power Project (MBRAPP), which is being developed by joint venture entity Anushakti Vidhyut Nigam Ltd (ASHVINI). Nuclear Power Corporation of India (NPCIL) owns 51 per cent stake and NTPC remaining 49 per cent in the JV.

The partners will pool in financial, technological, and project expertise for the project which entails an investment of around Rs 42,000 crore, NTPC said in a statement.

The project, which marks NTPC's foray into nuclear power generation, will be one of the largest nuclear plants in the country supplying reliable base load energy and will strengthen India's position in the environmental stewardship and evolving nuclear energy landscape.

Modi also inaugurated RSDCL Nokh Solar Park (925 MW) at Phalodi, Rajasthan in which NTPC is developing 735 MW. MBRAPP will supply clean, affordable and reliable power to Rajasthan and other beneficiaries. This will create direct and indirect employment opportunities and will support local communities, businesses, and industries, supporting the economic growth and prosperity in the state and the country.

Meanwhile, in a statement, Avaada Group said the Prime Minister laid the foundation stone of its 1560 MWp solar plus 2500 MWh Storage (BESS) project at Pugal and 200 MW (282 MWp) solar power project at Dungargarh in Rajasthan.

Together, these two projects represent a combined investment of more than Rs 9,200 crore in Rajasthan's renewable energy sector, the Group said. Both projects are estimated to generate over 1600 green jobs in the State. The projects will cut down more than 20 lakh tons of CO2 emissions annually and help conserve approximately 600 lakh litres of water annually through robotic cleaning.

"We are committed to empowering communities, creating livelihoods, and shaping a sustainable, self-reliant nation," Vineet Mittal, Chairman of Avaada Group, said.