In Short:
NTPC, India’s largest power generator, plans to invest ₹1.5 trillion in a major nuclear power initiative. The company aims to set up 10GW of nuclear power capacity over 10 years, doubling India’s current nuclear capacity. NTPC is in talks with states and seeking government approval to set up a subsidiary, NTPC Nuclear Ltd. The focus on nuclear power aligns with India’s goal of installing 500GW of non-fossil fuel power capacity by 2030.
India’s Largest Power Generator NTPC Plans Nuclear Foray
In a groundbreaking move, NTPC Ltd, India’s largest power generator, is gearing up for a major nuclear venture. The company aims to set up a 10GW capacity nuclear power initiative with an investment of ₹1.5 trillion over the span of 10 years. This ambitious plan will more than double India’s current nuclear power capacity.
Expansion Plans and Partnerships
In a recent interview, NTPC’s Chairman and Managing Director, Gurdeep Singh, revealed that the company is actively engaging with multiple states for this initiative. NTPC has also sought approval from the Centre to establish a wholly owned subsidiary dedicated to nuclear power.
Singh mentioned, “We are scouting for potential sites for nuclear projects in states like Gujarat, Tamil Nadu, Jharkhand, Chhattisgarh, and Karnataka. These locations will need approval from the Atomic Energy Regulatory Board.”
It’s worth noting that NTPC currently has a joint venture with the Nuclear Power Corporation of India Ltd (NCPIL) for two nuclear power plants in Rajasthan and Madhya Pradesh.
New Subsidiary for Nuclear Business
NTPC is all set to create NTPC Nuclear Ltd as its 11th subsidiary to handle all nuclear business operations. This strategic move aligns with NTPC’s larger goal of achieving 60GW green power capacity by 2032.
The company’s focus on nuclear power is significant as India currently has a nuclear power capacity of only about 7GW. Nuclear energy is considered to be clean and non-fossil fuel, contributing to the government’s plan to install 500GW of non-fossil power capacity by 2030.
Future Developments and Partnerships
NTPC plans to execute the Mahi Banswara nuclear project (4x700MW) through the existing joint venture with NPCIL. Additionally, the company is in discussions with global players to develop small modular reactors (SMRs) under the new nuclear subsidiary.
SMRs are innovative, factory-built reactors with a capacity of up to 300 MW(e) per unit, offering flexibility in location setups. This technology opens doors for nuclear power generation in areas unsuitable for traditional plants.
Outlook on Nuclear Energy
A recent report from IIM Ahmedabad highlighted the vital role of nuclear energy in India’s energy mix toward achieving net-zero emissions targets. Globally, nuclear energy is recognized as a key player in decarbonization efforts and achieving net-zero emissions goals.
This bold move by NTPC marks a significant step towards a sustainable energy future for India, reflecting the company’s commitment to innovation and clean energy initiatives.
