India’s NTPC Plans to Spend $62 Billion on 30 GW of Nuclear Power
...and 100 GW of nuclear power by 2047
India’s largest power producer, NTPC, is set to revolutionise the country’s energy landscape with an ambitious $62 billion investment in nuclear power. This state-run company plans to construct 30 GW of nuclear capacity over the next two decades, tripling its initial target of 10 GW.
This bold move comes in response to recent policy changes by the Indian government, which now welcomes private and foreign investments in the nuclear sector. The shift aims to accelerate India’s transition to clean energy, with a national goal of achieving 500 GW of non-fossil fuel electricity capacity by 2030 and 100 GW of nuclear power by 2047.
NTPC’s expansion strategy includes:
1. Large-scale reactors: Two 2.6 GW plants are already under construction in Madhya Pradesh and Rajasthan, in partnership with the Nuclear Power Corporation of India (NPCIL).
2. Small Modular Reactors (SMRs): NTPC is exploring collaborations with international firms like EDF (France), General Electric (US), and Holtec International (US) to develop these innovative, scalable nuclear solutions.
3. Land acquisition: The company is seeking approval for sites across eight states, including Gujarat, Uttar Pradesh, and Tamil Nadu, to accommodate its growing nuclear fleet.
To spearhead this nuclear push, NTPC has established a dedicated subsidiary, NTPC Parmanu Urja Nigam Limited. This entity will oversee investments, potentially through joint ventures and international partnerships.
NTPC’s nuclear ambitions reflect a growing interest in atomic energy among Indian conglomerates. Companies like Tata Power, Vedanta, and Reliance Industries are also eyeing opportunities in this expanding sector.
Source: Reuters
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