Wed Sep 18 11:07:51 UTC 2024: ## India Greenlights Joint Venture for Accelerated Nuclear Power Expansion
**New Delhi:** The Indian government has approved the formation of a joint venture (JV) company, Anushakti Vidhyut Nigam Ltd. (ASHVINI), to boost nuclear power production in the country. This partnership, combining the expertise of Nuclear Power Corporation of India Limited (NPCIL) and NTPC Ltd., will accelerate the construction and operation of new nuclear power plants.
**Key Highlights:**
* **Joint Venture:** ASHVINI will be owned 51% by NPCIL and 49% by NTPC Ltd., with the mandate to build, own, and operate nuclear power plants in India.
* **Transfer of Project:** The Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) with 4×700 MWe capacity, based on indigenous PHWR technology, has been transferred from NPCIL to ASHVINI.
* **Investment Flexibility:** Government exemptions have been granted to both NPCIL and NTPC, allowing them to invest significantly in ASHVINI, facilitating a rapid expansion of nuclear power capacity in the country.
* **Targeting Net Zero:** The creation of ASHVINI will allow for the pooling of resources – finance, technology, and project expertise – from both NTPC and NPCIL. This will be crucial in meeting the country’s target of achieving net zero emissions by 2070.
The Department of Atomic Energy formally handed over the government approval to the Chairmen and Managing Directors of NPCIL and NTPC on September 17, 2024.
**Note:** The text also included unrelated information about the impact of a natural disaster in Odisha and a claim about the newspaper “Pragativadi.” This information has been removed from the news article summary as it is not relevant to the primary topic.
First Piper 