NEW DELHI: The government on Tuesday approved Anushakti Vidhyut Nigam Ltd. (ASHVINI). This approval, granted on September 17, 2024, paves the way for ASHVINI to take over the Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) from NPCIL.
ASHVINI is a joint venture between Nuclear Power Corporation of India Limited (NPCIL) and NTPC Ltd., to build, own, and operate nuclear power plants across the country.
The MBRAPP project, valued at approximately Rs. 44,800 crore, will utilize indigenous Pressurized Heavy-Water Reactor (PHWR) technology and have a capacity of 2800 MW ².
This transfer of ownership is expected to accelerate nuclear power capacity addition in India, with the government also granting exemptions to NPCIL and NTPC to invest beyond the initial limits.
ASHVINI, initially formed with a 51:49 shareholding ratio between NPCIL and NTPC, aims to pool resources from both companies to rapidly expand nuclear power productivity in India. The joint venture will also pursue other nuclear power projects nationwide.
India has set ambitious targets to achieve 22,800 MW of nuclear power capacity by 2031-32, a substantial increase from the current 7,480 MW ¹ ².
This development is crucial in meeting the country's Net Zero emissions goal by 2070.