Ashvini JV

Anushakti Vidhyut Nigam Limited — branded as 'Ashvini' — is a joint venture between the Nuclear Power Corporation of India Limited (NPCIL) and NTPC Limited that was approved by the Union Cabinet on September 11, 2024. NPCIL holds 51% and NTPC 49% of the equity, allowing both partners to bring nuclear projects on-balance-sheet under their respective accounting treatments. Ashvini's first project is the Mahi Banswara Rajasthan Atomic Power Plant (MBRAPP), envisaged as four units of 700 MW Indian Pressurised Heavy Water Reactors (PHWR), giving a total capacity of 2,800 MW. The JV is structurally significant because it marks the first equity-based participation by a non-DAE public sector enterprise in the operation and ownership of Indian nuclear plants — moving beyond the earlier 'BHAVINI-only' or NPCIL-only model. It aligns with India's Vision 2047 of expanding nuclear capacity from about 8.18 GW (2025) to 100 GW by 2047. Ashvini is also the likely vehicle for proposed Centre-State joint nuclear projects.

• 1 Approved by Union Cabinet on September 11, 2024
• 2 Joint venture between NPCIL (51%) and NTPC (49%) — first equity-sharing in Indian nuclear
• 3 Full name: Anushakti Vidhyut Nigam Limited
• 4 First project: Mahi Banswara Rajasthan Atomic Power Plant (MBRAPP) — 4 × 700 MW PHWR (2,800 MW)
• 5 Operates within the framework of the Atomic Energy Act, 1962 and CLND Act, 2010
• 6 Aligned with Vision 2047 target of 100 GW installed nuclear capacity by 2047
• 7 Likely vehicle for new Centre-State joint nuclear projects, including parts of Maharashtra's May 2026 nuclear MoU portfolio

Maharashtra's May 2026 MoUs for 25,400 MW of nuclear capacity (about ₹6.5 lakh crore) explicitly identify Ashvini JV as the lead developer for several PHWR sites, alongside NPCIL standalone projects.