The Government of India formally approved establishing Anushakti Vidhyut Nigam Ltd. (ASHVINI) to increase India’s nuclear energy capacity.
ASHVINI, a joint venture (JV) between the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation Limited (NTPC), has a shareholding ratio of 51% and 49%, respectively.
The goal of this project is to construct, acquire, and operate nuclear power facilities in India.
Through this partnership, India will be able to reach its net zero targets by 2070 and increase its nuclear power production by leveraging the financial, technological, and project expertise of both NTPC and NPCIL.
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ASHVINI will initially take over the Mahi Banswara Rajasthan Atomic Power Project (MBRAPP), a 4×700 MW facility utilizing Indigenous Pressurised Heavy Water Reactor (PHWR) technology.
Additionally, the government has given an exemption for NTPC to invest more than Rs. 5000Cr in a single subsidiary business and for NPCIL to invest more than Rs. 500Cr.
This will enable adequate financing for the addition of accelerated nuclear power capacity in India.
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In addition to MBRAPP, ASHVINI will pursue other nuclear power projects across the country.
In September, the Department of Atomic Energy officially granted government approval to the Chairmen and Managing Directors (CMD) of both NPCIL and NTPC.