NEW DELHI: State-owned NTPC is set to appoint a consultant to identify uranium mines abroad, following a formal agreement with Uranium Corporation of India Ltd (UCIL), a company official said. The initiative is part of NTPC’s broader strategy to secure raw materials for future standalone nuclear projects.
Currently, NTPC is developing a nuclear project in Rajasthan through a joint venture (JV) with Nuclear Power Corporation of India Ltd (NPCIL), investing around ₹42,000 crore. In this JV, NTPC holds a 49% stake in ASHVINI, while NPCIL retains a majority 51% share.
Prime Minister Narendra Modi recently laid the foundation stone for the 4×700 MW Mahi Banswara Rajasthan Atomic Power Project (MBRAPP), being developed by the JV entity Anushakti Vidhyut Nigam Ltd (ASHVINI) in Banswara.
NTPC CMD Gurdeep Singh has shared plans for establishing independent nuclear projects, noting that the company is working with various nuclear technology providers and state governments to develop these projects on its own.
Uranium, a naturally occurring metallic element, serves as fuel for nuclear power plants.
A company official told PTI, “We are in the process of signing the JV agreement with UCIL for joint techno-commercial due diligence of overseas uranium assets. The proposal has been sent to the board for approval, after which we will award a consultancy contract.”
The appointed consultant will advise on potential uranium mine locations, and decisions on acquiring these assets will follow. Factors such as reserves and logistics costs will also be evaluated, the official added. Previously, NTPC’s board had approved a draft MoU with UCIL for joint techno-commercial due diligence of overseas uranium assets.
Founded in 1975 as a thermal power generator, NTPC Ltd (formerly National Thermal Power Corporation Ltd) has steadily expanded its capacity and diversified into alternative energy sources. Today, the country’s largest power generator has an installed capacity of 83,863 MW across coal, gas/liquid fuel, hydro, and solar power, according to the NTPC website.
