NTPC Limited and Nuclear Power Corporation of India Limited (NPCIL) have signed a Supplementary Joint Venture Agreement-2 (SJVA-2), marking a significant step in their partnership to advance nuclear energy projects in India. This agreement amends the original Joint Venture Agreement (JVA) dated April 27, 2010, and focuses on the formation and restructuring of the joint venture company Anushakti Vidhyut Nigam Limited (ASHVINI).
Key Details of the Agreement:
- Shareholding Structure:
- NPCIL and NTPC will hold stakes in ASHVINI in a revised ratio of 51:49, respectively.
- Project Transfer:
- The Mahi Banswara Rajasthan Atomic Power Project (MBRAPP), comprising four 700 MW units, will be transferred from NPCIL to ASHVINI.
- Authorized Share Capital:
- ASHVINI’s authorized share capital will be enhanced from ₹5 crore to ₹15,000 crore, enabling the joint venture to support large-scale nuclear energy projects.
- Board Composition:
- The number of directors nominated by NPCIL and NTPC will be adjusted in proportion to their respective shareholdings.
Purpose of the Amendment:
The agreement aims to restructure and streamline operations under ASHVINI, enabling efficient execution of nuclear power projects. It also formalizes the operational and financial framework for the Mahi Banswara project, ensuring alignment with India’s clean energy objectives.
TOPICS:
NTPC