NTPC Ltd and Nuclear Power Corporation of India to jointly invest approximately Rs 50,400 crore for the development of the 2,800 MW Mahi-Banswara nuclear power plant. The Cabinet is expected to approve the proposal to transfer the nuclear units to Anushakti Vidhyut Nigam Ltd, a joint venture with NPCIL, this month.
The person mentioned that the company will no longer participate in the 1,400 MW Chutka Madhya Pradesh Atomic Power Project, which was supposed to be a collaboration with NPCIL. The Mahi-Banswara project would serve as a stepping stone for the power major to advance its nuclear energy plans independently, according to the individual.
The company is planning to list its environmental division in November with aims to dilute its stake by 10%, as per the source. NGEL is expected to have 4,000 MW installed in November, with another 8,000 MW being built and an additional 8,000 MW in different development stages.
NGEL will support the ambitious clean energy initiatives of India's biggest power producer. The company plans to establish subsidiaries and form joint ventures to execute the projects.
The power generator's branch will lead the way in achieving the goal of increasing renewable energy capacity by 60 GW by 2032. It also aims to advance projects for pumped hydro storage and the production of green hydrogen and ammonia.
