NTPC Ltd. – Strategic Update on Nuclear Power Expansion

Key Highlights: NTPC Ltd., building on its diversification strategy that will position NTPC as a pivotal player in the nation's 100 GW nuclear capacity target by 2047. NTPC is targeting a 30% share of India's 2047 nuclear capacity, which translates to an ambitious goal of developing 30 GW of nuclear assets. The company is actively planning a portfolio of nuclear projects with diverse capacities, including 700 MW, 1,000 MW, and 1,600 MW units. Strategic site identification is in progress. The company is currently evaluating land options across several states, including Gujarat, Madhya Pradesh, Bihar, and Andhra Pradesh, subject to final approval from the Atomic Energy Regulatory Board (AERB). For the 700 MW and 1,000 MW projects, NTPC plans to deploy indigenously developed Pressurised Heavy-Water Reactors (PHWRs), leveraging domestic expertise. For the larger 1,600 MW super-critical projects, the company is exploring potential technology collaborations, indicating a flexible approach to secure best-in-class technology. NTPC is proactively securing its fuel supply chain. The company is exploring the acquisition of overseas uranium assets and has signed a draft agreement with Uranium Corporation of India Ltd (UCIL) for joint techno-commercial due diligence. NTPC is already executing its nuclear strategy through 'ASHVINI' (Anushakti Vidhyut Nigam Ltd), a joint venture with Nuclear Power Corporation of India Ltd (NPCIL), where NTPC holds a 49% stake. This JV is developing the 4x700 MW Mahi Banswara Rajasthan Atomic Power Project (MBRAPP), with an estimated investment of ₹42,000 crore. The foundation stone for this project was laid in September. This nuclear expansion represents a significant, long-term capital expenditure cycle. Industry estimates place the investment for a 1 GW nuclear plant in the range of ₹15,000–₹20,000 crore. This strategic diversification into nuclear power complements NTPC's existing 84,848 MW group capacity