NTPC to set up nuclear energy business via new unit

8 Jan 2025 , 08:58 AM

On Tuesday (January 7), state-run power company NTPC Ltd announced the formation of a wholly-owned subsidiary, NTPC Parmanu Urja Nigam Ltd (NPUNL), to lead its nuclear energy initiatives.

NPUNL was founded to design, construct, and operate nuclear energy projects for power generation and other reasons. The subsidiary’s primary goals will be to build, own, and manage nuclear power plants, as well as to promote research and development and locate potential nuclear facility sites.

The incorporation was approved by the Ministry of Power, the Department of Investment and Public Asset Management (DIPAM), and the NITI Aayog. NTPC purchased 50,000 equity shares of NPUNL for ₹10 apiece, resulting in 100% ownership of the subsidiary.

NTPC reported a 19.6% increase in net profit of ₹4,648 Crore in the September quarter (Q2). In the previous year, the state-owned Maharatna Power Corporation reported a net profit of ₹3,885 Crore.

In the April-September quarter of the current fiscal year, the company’s average rate was ₹4.67 per unit, up from ₹4.61 per unit the previous year. NTPC’s gross power generation declined to 88.46 billion units (BU) in the second quarter, down from 90.30 BU a year earlier.

Its captive mines produced 9.03 million tonnes (MT) of coal in the quarter, up from 5.59 MT the previous year. From April to September this fiscal year, production increased to 18.67 MT from 11.83 MT previously.

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