NTPC Ventures Globally for Uranium to Fuel Nuclear Expansion

State-owned NTPC plans to acquire uranium mining assets overseas to secure sustainable fuel supplies for its ambitious nuclear power expansion. Targeting a 30 GW nuclear contribution, the company seeks consultants to explore asset acquisitions in countries like Australia and Canada. This move aligns with India's 100 GW nuclear capacity target by 2047.

State-owned power giant NTPC is setting its sights overseas as it embarks on plans to secure uranium mining assets to fuel its ambitious expansion in nuclear power. A recent tender by the company indicates a strategic push towards ensuring sustainable long-term fuel supplies critical for meeting the national nuclear capacity target of 30 GW.

Faced with limited domestic uranium reserves, NTPC is looking towards international markets, appointing a consultant to help identify and evaluate mining opportunities abroad, with potential target countries including Australia, Canada, Kazakhstan, and South Africa. The move is a part of NTPC's broader strategy under its subsidiary, NTPC Parmanu Urja Nigam Limited (NPUNL).

This initiative also supports India's aim to reach 100 GW of nuclear power capacity by 2047, a key component of its net-zero emissions target for 2070. The consultant will aid NTPC in preparing a global Request for Proposal for potential acquisitions, ensuring a robust evaluation of opportunities across the nuclear fuel supply chain.