NTPC, NPCIL form joint venture for setting up nuclear power projects

2 May 2023 , 04:22 AM

NTPC and Nuclear Power Corporation of India have signed a supplementary joint venture agreement for developing nuclear electricity-producing projects.

The joint venture will first build two pressurized heavy-water reactor projects: the 2,800 MW Mahi Banswara in Rajasthan and the 1,400 MW Chutka in Madhya Pradesh.

The state-owned NTPC has previously stated that it intended to venture into the nuclear energy sector and enter fuel tie-up agreements with the Uranium Corporation of India to assure necessary supply.

By 2032, the largest power producer in India hopes to have 130 GW of capacity, with 2,000 MW coming from nuclear sources. The business had previously stated that the two projects’ full capacity might be operational by 2035.

‘We are confident that out of the Chutka and Mahi Banswara, we will definitely be completing 2,000 MW,’ the company stated.

To achieve its clean energy goals and diversify its sources of electricity generation, the government is encouraging nuclear power plants.

According to past government statements, all energy sources are being used to their full potential in India despite the country’s relatively low fossil fuel resource base and high and rising energy demand.

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