H(+) + NADP(+) + 2 reduced [2Fe-2S]-[ferredoxin] = NADPH + 2 oxidized [2Fe-2S]-[ferredoxin] The enzyme was overproduced in E.coli. Purifies with both the classic phycobilisome (PBS) supercomplex (CpcG-PBS) and a photosystem I-associated PBS called CpcL-PBS; it accumulates to a higher level in CpcL-PBS. In both PBS it can be cross-linked to both phycocyanin subunits. May be bound to the thylakoid membrane or anchored to the thylakoid-bound phycobilisomes. By light, and also by 0.55 M NaCl. Acetylated at the N-terminus; 6% of protein in CpcG-PBS and 12% of protein in CpcL-PBS is acetylated. Essential for growth. Belongs to the ferredoxin--NADP reductase type 1 family.