State-owned NTPC’s stock will continue to be watched on Friday after the firm revealed intentions to build a nuclear energy project in Bihar, which would be a major step in diversifying its non-fossil energy portfolio. During Thursday’s ‘Bihar Business Connect 2024’ meeting, NTPC Chairman and Managing Director Gurdeep Singh made the news.
NTPC plans to set up nuclear power project
NTPC, a power powerhouse, announced on Thursday that it intends to establish a nuclear project in Bihar, expanding its non-fossil energy portfolio. Gurdeep Singh is the company’s chairman and managing director (CMD). Speaking at the ‘Bihar Business Connect 2024’ forum here, he announced that NTPC had also asked the state government for a piece of land in a good position to forward its nuclear aspirations.
A study will be carried out by NTPC before to moving forward with plans to establish a nuclear project in the state. A joint venture between Nuclear Power Corporation of India Ltd (NPCIL) (51 percent) and NTPC (49 percent), Anushakti Vidhyut Nigam Ltd (ASHVINI) received approval from the Indian government on September 11 to construct, own, and run nuclear power plants in India in compliance with the Atomic Energy Act.
About the Company- NTPC Ltd
NTPC Ltd, the biggest power provider in India, has 72,254 MW of installed capacity (including joint ventures), and by 2032, it intends to grow to 130 GW. Power generation and sales in bulk are the company’s operations. When considering availability factor and average plant load factor (PLF), the company’s stations are operated at a level of efficiency in excess of the average in India. They have created a long-term technological roadmap for their future facilities that includes supercritical and ultra-supercritical machines and other high-efficiency equipment. Among their subsidiaries are Bhartiya Rail Bijlee Company Ltd., NTPC Electric Supply Company Ltd., NTPC Hydro Ltd., NTPC Vidyut Vyapar Nigam Ltd., Pipavav Power Development Company Ltd., and Kanti Bijlee Utpadan Nigam Ltd.
