New Delhi: State-run power giant NTPC Ltd. is set to appoint a consultant to identify uranium mines abroad, following a formal agreement with Uranium Corporation of India Limited (UCIL), a senior company source confirmed. The move is part of NTPC’s long-term strategy to secure nuclear fuel for its upcoming independent nuclear power projects.
Currently, NTPC is collaborating with Nuclear Power Corporation of India Ltd (NPCIL) to develop a ₹42,000 crore nuclear power plant in Rajasthan. The project is being executed through a joint venture named Anushakti Vidhyut Nigam Ltd (ASHVINI), with NTPC holding a 49% stake and NPCIL the remaining 51%.
On Thursday, Prime Minister Narendra Modi laid the foundation stone for the 4×700 MW Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) in Banswara, which is being developed under the ASHVINI JV.
Looking ahead, NTPC Chairman and Managing Director Gurdeep Singh announced plans to establish independent nuclear projects. The company is currently in discussions with nuclear technology providers and state governments to facilitate these ventures.
As part of its uranium sourcing strategy, NTPC is in the final stages of signing a joint venture agreement with UCIL. The consultant to be appointed will conduct techno-commercial due diligence of overseas uranium assets, evaluating reserve quantity, logistics, transportation costs, and commercial viability. Based on these assessments, NTPC will decide on acquiring uranium resources abroad.
This initiative is aimed at ensuring fuel security for NTPC’s future nuclear projects and aligns with its broader goal of diversifying energy sources beyond thermal generation.
Founded in 1975, NTPC has evolved from a thermal power producer into India’s largest power generator, with a total installed capacity of 83,863 MW at the group level. The company has steadily expanded into hydro, solar, and nuclear energy, reinforcing its commitment to sustainable and diversified power generation
