NTPC signed a supplementary joint venture agreement with Nuclear Power Corporation of India Ltd (NPCIL) for the development of nuclear power projects. The joint venture will develop two pressurized heavy-water reactor projects, which include 1,400 MW Chutka in Madhya Pradesh and 2,800 MW Mahi Banswara in Rajasthan, confirmed the power ministry.
“Supplementary joint venture agreement has been signed to amend the earlier JV Agreement for changes necessitated due to amendment in Atomic Energy Act and to restructure NTPC & NPCIL Joint Venture Company, ASHVINI to have equal (50:50) partnership/shareholding of NTPC and NPCIL instead of 49:51 shareholding earlier,” NTPC said in a regulatory filing.
The agreement was signed by Ujjwal Kanti Bhattacharya, Director Projects, NTPC Ltd. and Ranjay Sharan, Director Projects, NPCIL in the presence of RK Singh, Minister of Power, New & Renewable Energy, KN Vyas, Secretary DAE & Chairman Atomic Energy Commission, Alok Kumar, Secretary, Ministry of Power, Gurdeep Singh, CMD NTPC, Shri B C Pathak, CMD NPCIL and senior officials of Ministry of Power and Department of Atomic Energy.
“This Supplementary Joint Venture Agreement marks a pivotal step for NTPC Ltd. and NPCIL to collaborate and cooperate in the field of development of Nuclear Power projects which shall help the country in meeting its Clean Energy Commitments to achieve net zero emission target by 2070,” the ministry said.
Earlier in December last year, NTPC had said that the NTPC Group including joint ventures and arms crossed 3GW of operational renewable energy (RE) capacity. The NTPC Group achieved this milestone with commissioning of first part capacity of 100 MW out of 300 MW Nokhra Solar PV Project at Bikaner, Rajasthan from 00:00 hours of December 20, 2022, a company statement said. NTPC group had crossed 2 GW on June 24 this year with the commissioning of its 92 MW floating solar project at Kayamkulam, Kerala.