5 January 2009 – India’s Nuclear Power Corporation (NPCIL) and NTPC are likely to sign a JV agreement for the development of two nuclear reactors with a generation capacity of 1000 MW each shortly.
The two firms are likely to invest Rs 10 000 crore ($2.07bn) in the projects wherein NPCIL will hold 51 per cent stake and NTPC will have 49 per cent share. The projects are expected to be developed on 70:30 debt equity ratio. Details regarding procurement of nuclear reactors, fuel and mobilisation of funds will be worked out during the signing of the JV agreement.
The proposed capacity addition is planned at Kudankulam (2×1000 MW) and Jaitapaur (2×1000 MW). Besides, NPCIL has evaluated sites in Andhra Pradesh, West Bengal, Gujarat and Orissa. The Union government will have to approve two sites from those evaluated for two projects of 2000 MW each.