NTPC, NPCIL ink JV deal to set up nuclear power plants

April 27th, 2010 - 9:55 pm ICT by IANS  

New Delhi/Mumbai, April 27 (IANS) State-owned power utilities NTPC and Nuclear Power Corporation Tuesday inked a deal here to set up a joint venture to construct two nuclear power projects with the provision of setting up more such units in future.The joint venture will have NPCIL holding a 51 percent equity stake, while NTPC will own the rest.

The new company will operate about 1,400 MW of capacity with two reactors of 700 MW each.

The agreement was signed by NPCIL chairman S.K. Jain and his NTPC counterpart R.S. Sharma.

With an installed capacity of 31,704 MW, NTPC is largely dependent on coal (about 82 percent) and gas for generating electricity. The company has begun to diverisfy into other power generating streams and is focusing on its renewable energy portfolio.

By 2017, the company plans to have at least 1,000 MW through renewable energy resources such as wind, hydro, solar, biomass and geo-thermal.

NPCIL plans to ramp up capacity from the current 4,560 MW to about 10,080 MW by 2017.

-jj/qn/srj/dg

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