NTPC has entered into a supplementary joint venture agreement with the Nuclear Power Corporation of India (NPCIL) to develop nuclear power projects.

What Happened: The agreement was inked in New Delhi by Ujjwal Kanti Bhattacharya, director of projects, NTPC, and Ranjay Sharan, director of projects, NPCIL.

The JV company will initially develop two Pressurized Heavy-Water Reactor (PHWR) projects. These include the Chutka Madhya Pradesh Atomic Power Project (2×700 MW) and the Mahi Banswara Rajasthan Atomic Power Project (4×700 MW), identified as part of the fleet mode nuclear projects.

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“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,” the companies said in a statement. The collaboration aims to help India meet its Clean Energy Commitments and achieve net zero emission target by 2070.

In August 2024, the company announced the commercial operation of the first part capacity of 160 megawatts from its Bhainsara Solar PV Project in Jaisalmer, Rajasthan. The total installed and commercial capacity of the NTPC group has now reached 76,294 megawatts with this new addition.

Media reports also suggest that NTPC’s green unit is set to hit Dalal Street with a ₹10,000 crore issue. The company’s focus on green energy and nuclear power projects aligns with India’s commitment to achieving net zero emissions by 2070.

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