NTPC and the Nuclear Power Corporation of India (NPCIL) agreed to a Supplementary Joint Venture Agreement. The Joint Venture Agreement (JVA) dated April 27, 2010, will be modified by this Supplementary Joint Venture Agreement (SJVA), which will also be a part of the JVA. The Government of India must approve the SJVA’s provisions.
In order to amend the Joint Venture Agreement from April 27, 2010, which relates to the creation of the joint venture company Anushakti Vidhyut Nigam (ASHVINI), between NTPC and NPCIL, the company has signed a supplementary joint venture agreement. NTPC and NPCIL Joint Venture Company, ASHVINI, has been reorganised to have equal (50:50) partnership/shareholding of NTPC and NPCIL instead of 49:51 shareholding earlier. Supplementary Joint Venture Agreement has been signed to amend the earlier JV Agreement for changes necessitated due to amendment in Atomic Energy Act. The largest power company in India, NTPC is also involved in coal mining, gas, solar power generation, hydroelectric power generation, and wind power generation.