NLC India Limited (NLCIL) has inked a memorandum of understanding with Nuclear Power Corporation of India Limited (NPCIL) to form a joint venture for establishment of nuclear power projects in the country, marking a significant step towards strengthening the country’s clean energy transition.

The MoU was signed by NLCIL Director (Power) M. Venkatachalam and Rajesh, Director (Technical) of NPCIL in the presence of Prasanna Kumar Motupalli, Chairman and Managing Director of NLCIL and Functional Directors of both companies.

The proposed collaboration will focus on development of 700 MW indigenous Pressurised Heavy Water Reactor (PHWR)-based nuclear power projects, or any other power reactor of suitable capacity based on latest technologies and mutually-agreed terms. The collaboration also envisages investment opportunities in NLCIL’s existing and upcoming 700 MW PHWR projects through the proposed JV framework.

According to a press note, India has set an ambitious target of achieving 100 GW Nuclear power capacity by 2047 to support the nation’s developmental aspirations and climate commitments.

NLCIL has nearly seven decades of distinguished presence in mining and power generation. While strengthening its conventional power portfolio, the company has also been actively expanding into large-scale renewable and green energy initiatives, including solar, wind, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, low-carbon round-the-clock power and waste-to-energy projects.

Recognising the strategic importance of nuclear energy in India’s future energy mix, NLCIL and NPCIL have come together to explore opportunities for establishing advanced nuclear power projects that will contribute towards reliable base-load power generation and long-term energy security for the nation, NLCIL said.

According to Mr. Motupalli, “The partnership with NPCIL marks a significant milestone in NLCIL’s strategic diversification into clean and sustainable energy sectors. He emphasised that nuclear energy would play a vital role in ensuring India’s long-term energy security while supporting the nation’s commitment towards achieving Net Zero Carbon emissions.”

He noted that the collaboration combines NLCIL’s extensive experience in the power sector with NPCIL’s proven expertise in nuclear energy, paving the way for development of reliable, sustainable and environmentally benign base-load power projects for the country.