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The government has approved a joint venture between NPCIL and NTPC to build four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan.
The Department of Atomic Energy handed over the document approving the joint venture 'Anushakti Vidyut Nigam Limited (ASHVINI)'? to top officials of the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation (NTPC) on Tuesday, an official statement said.
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With this approval, ASHVINI has been authorized to build, own and operate nuclear power plants in India in accordance with the existing legal framework, the statement from NPCIL said.
It said ASHVINI will be a subsidiary of NPCIL, which will have 51 per cent stake in the entity.
The Mahi Banswara project of 4x700 MW Pressurised Heavy Water Reactors (PHWR) will be implemented by ASHVINI.
The joint venture will pave the way for pooling resources in terms of finances and expertise for the rapid expansion of nuclear power capacity in the country to meet the targets of Net Zero by 2070.
India has set ambitious targets to achieve 22,800 MW of nuclear power capacity by 2031-32, a substantial increase from the current 8,180 MW.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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