NTPC wants to obtain uranium assets abroad to ensure fuel for future core projects

New Delhi, September 21 (PTI) homemade power giant NTPC, which diversify into clean energy generation, wants to obtain uranium assets abroad to ensure the availability of fuel for its future core projects, according to an official of the company. NTPC Ltd (then National Thermal Power Corporation Ltd), founded in 1975 as a thermal-based generator, increased its capacity while diversifieding into new ways of generating. The country’s largest generator has an installed capacity of 83,026 megawatts at group level based on fuel sources such as coal, gas/liquid fuel, hydro and solar power, according to the NTPC website. To increase its non-fossil fuel-based energy generation capacity, the company intends to set up core projects in different places in India, both through joint enterprise route and individually. “For fuel, we are investigating the possibility of acquiring overseas uranium assets. Our board already has a concept of sleeve (memorandum or understanding) with Uranium Corporation of India Limited (UCIL) approved for joint techno-commercial caution of overseas uranium assets in this direction,” the officer told PTI. Uranium, a naturally occurring metal element, is used as fuel to stimulate core projects. NTPC is expected to enter the nuclear company by Anushakti Vidhyut Nigam Ltd (Ashvini) soon, a joint venture with Nuclear Power Corporation of India Ltd (NPCIL), with 2,800 megawatts (MW) Mahi Banswara Nuclear Project at Rajasthan. The JV, in which NPCIL has a 51 percent stake and NTPC owns 49 percent, has been formed to build, own and operate nuclear power plants in India in accordance with the provisions of the Atomic Energy Act. In January this year, NTPC formed its subsidiary NTPC PANMANU URJA NIGAM LTD (NPUNL) to investigate individual core projects. Besides, NTPC works with various nuclear technology and state governments to set up on its own projects. According to the official, the state -owned power business is also in conversation with the US Clean Core Thorium Energy (CCTTE) to investigate the development/implementation of aneel (Advanced Nuced Nuclear Energy for Enriched Life). The government intends to set up 100 GW nuclear power capacity by 2047 to increase its share in India’s energy mix. From March 2025, the country’s total installed energy capacity of 4,75,212 MW only has 2 percent or 8,180 MW share in nuclear power. The official further said that although renewable energy sources such as solar and wind have seen significant growth, their interrupted nature and considerable land requirements limit their ability to meet India’s energy question for the entire time. “In contrast, nuclear energy offers a robust alternative, which offers high -quality reliable base power with minimal carbon emissions,” he said.