India’s largest power producer, NTPC Ltd, is preparing to expand into nuclear energy and is exploring the acquisition of overseas uranium assets to secure fuel for its upcoming projects, a company official said.
Established in 1975 as a thermal power generator, NTPC has steadily expanded its portfolio and diversified into cleaner energy sources. With a current installed capacity of 83,026 MW across coal, gas, hydro, and solar projects, the company is now charting its entry into nuclear power.
To support this transition, NTPC’s board has approved a draft MoU with Uranium Corporation of India Ltd (UCIL) for joint techno-commercial due diligence of uranium mines abroad. Uranium is the key fuel for nuclear plants and securing supply is crucial for NTPC’s long-term plans.
The state-run utility will soon enter the nuclear space through Anushakti Vidhyut Nigam Ltd (ASHVINI) — a joint venture with Nuclear Power Corporation of India Ltd (NPCIL). The JV, where NPCIL holds 51% and NTPC 49%, will begin with the 2,800 MW Mahi Banswara Nuclear Power Project in Rajasthan.
In January, NTPC also floated a wholly-owned subsidiary, NTPC Parmanu Urja Nigam Ltd (NPUNL), to independently pursue nuclear projects. The company is collaborating with nuclear technology providers and state governments to develop its own projects as well. Discussions are also underway with US-based Clean Core Thorium Energy (CCTE) on using ANEEL (Advanced Nuclear Energy for Enriched Life) fuel.
The government has set an ambitious target of 100 GW of nuclear capacity by 2047 to enhance India’s energy security and reduce dependence on fossil fuels. Currently, nuclear power accounts for just 2% (8,180 MW) of the country’s total installed capacity of 4,75,212 MW (as of March 2025).
While renewables like solar and wind have grown rapidly, their intermittent generation and high land requirements limit their ability to meet round-the-clock demand. Nuclear power, officials said, offers reliable base-load supply with low carbon emissions, making it a vital component of India’s future energy mix.
