NTPC’s Global Uranium Hunt to Power Nuclear Future

India’s largest power generator, NTPC Ltd, is setting its sights on acquiring uranium assets abroad to secure fuel for its ambitious nuclear energy expansion, a senior company official revealed. As the state-owned giant, traditionally known for its thermal power roots since 1975, pivots toward clean energy, this strategic move aims to bolster its upcoming nuclear projects and support India’s goal of achieving 100 GW of nuclear power capacity by 2047.

With an installed capacity of 83,026 MW across coal, gas, hydro, and solar, NTPC is diversifying into nuclear energy through joint ventures and standalone initiatives. The company has inked a draft MoU with Uranium Corporation of India Limited (UCIL) to conduct joint techno-commercial due diligence on overseas uranium assets, the official told PTI. Uranium, a critical fuel for nuclear reactors, is central to NTPC’s plans to ensure a steady supply chain.

NTPC is poised to enter the nuclear sector through Anushakti Vidhyut Nigam Ltd (ASHVINI), a joint venture with Nuclear Power Corporation of India Ltd (NPCIL), where NTPC holds a 49% stake. The partnership’s flagship project, the 2,800 MW Mahi Banswara Nuclear Power Project in Rajasthan, marks NTPC’s bold step into nuclear energy. Additionally, in January 2025, NTPC launched its subsidiary, NTPC Parmanu Urja Nigam Ltd (NPUNL), to spearhead independent nuclear projects.

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The company is also exploring innovative fuel technologies, engaging with U.S.-based Clean Core Thorium Energy (CCTE) to develop ANEEL (Advanced Nuclear Energy for Enriched Life) fuel, which could enhance efficiency and sustainability. NTPC is collaborating with state governments and global nuclear technology providers to fast-track its projects, aligning with India’s push to boost nuclear power’s share in its energy mix, currently a mere 2% (8,180 MW) of the total 475,212 MW capacity as of March 2025.

“Nuclear energy presents a robust alternative, offering reliable, high-quality base load power with minimal carbon emissions,” the official emphasized, noting that renewable sources like solar and wind, despite their growth, face limitations due to intermittency and land constraints. As India grapples with rising energy demands, NTPC’s global uranium quest signals a transformative shift toward a cleaner, more resilient energy future.

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