New Delhi: NTPC Limited, a Maharatna PSU and India's largest power utility, has incorporated a new subsidiary named NTPC Parmanu Urja Nigam Limited (NPUNL) for undertaking nuclear energy business. In a regulatory filing to the stock exchanges on Tuesday, NTPC said, "In continuation to the letter dated 24.05.2024, it is hereby informed that “NTPC PARMANU URJA NIGAM LIMITED”, has been incorporated on 07.01.2025 as wholly owned subsidiary of NTPC Limited for undertaking Nuclear Energy Business."
"The objective of the Company is to carry on the business of planning and executing an integrated programme for harnessing and developing nuclear energy for generating electricity or other purposes on a commercial basis and to Build, own, operate and manage, or to operate and manage as an agent, Nuclear energy and promote research and development, select suitable sites for nuclear power stations and ancillary facilities of every kind and description etc," NTPC told the bourses.
This company will be the first wholly-owned subsidiary of NTPC to focus exclusively on nuclear energy. The Maharatna PSU had received a nod from the Ministry of Power and DIPAM and Niti Aayog in Septemer 2024.
NTPC has incorporated another company in September 2024 which is a joint venture with Nuclear Power Corporation of India Limited (NPCIL), Anushakti Vidhyut Nigam Ltd (ASHVINI), for undertaking nuclear energy projects. NTPC plans to spend Rs 3-4 lakh crore on adding around 20 GW of nuclear power capacity over the next 23 years.
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