The Increasing Role of NTPC in Shaping India’s Nuclear Energy Future

India is rapidly advancing its nuclear energy capabilities, with plans to expand its nuclear power capacity from 8,180 MW today to 22,480 MW by 2031-32, and further to 10,000 MW by 2047. This remarkable growth is part of the country's broader strategy to meet its clean energy targets and reduce carbon emissions. At the forefront of this transformative shift is NTPC (National Thermal Power Corporation), India’s largest and most trusted power producer. NTPC is now making a significant entry into the nuclear energy sector, solidifying its role in the nation’s future energy landscape.

NTPC: A Trusted Pillar in India's Energy Sector

For decades, NTPC has been a driving force in India's power sector, delivering reliable electricity across the nation. Established in 1975, NTPC operates under the Ministry of Power and stands as India’s largest power utility, with a total installed capacity of 76.47 GW, including joint ventures. This public-sector giant oversees a diverse portfolio of 94 power plants, continuing its legacy of large-scale, efficient power generation, supplying bulk electricity to State Electricity Boards and various state utilities.

Traditionally a leader in coal and thermal power, NTPC is now steering ahead to become India’s largest integrated power company. With a target of achieving a 130 GW capacity by 2032, NTPC’s evolution aligns with the country’s increasing focus on clean energy solutions. Its portfolio has expanded beyond power generation to include consultancy services, project management, energy trading, oil and gas exploration, and coal mining.

In its next transformative venture, NTPC is embracing nuclear power as a vital step toward a carbon-free future. This strategic move underscores NTPC’s commitment to aligning with India’s vision of sustainable growth while solidifying its position as a key player in the nation's clean energy landscape.

Strategic Partnership with NPCIL: The ASHVINI Joint Venture

In a major milestone for India's nuclear energy sector, NTPC and the Nuclear Power Corporation of India (NPCIL) formed a transformative joint venture, Anushakti Vidhyut Nigam Ltd. (ASHVINI), in September 2024. With NPCIL holding a 51% stake and NTPC 49%, ASHVINI is set to lead the construction, ownership, and operation of nuclear power plants across India. This venture was made possible by recent amendments to the Atomic Energy Act and government approvals allowing substantial investments—over Rs 5 billion by NPCIL and Rs 50 billion by NTPC—into a single joint venture or subsidiary.

A significant project under this initiative is the transfer of the Mahi Banswara Rajasthan Atomic Power Project (4x700 MWe), which employs indigenous Pressurized Heavy Water Reactor (PHWR) technology, from NPCIL to ASHVINI. This strategic development is designed to accelerate nuclear power capacity addition in India by leveraging the combined resources of NPCIL and NTPC.

Prior to this, in May 2023, NPCIL and NTPC signed a supplemental JV agreement, strengthening their partnership in developing nuclear infrastructure in India. Planned projects include the Chutka Atomic Power Project in Madhya Pradesh (2 x 700 MW), along with the Mahi Banswara Atomic Power Project in Rajasthan (4 x 700 MW). ASHVINI will also oversee the establishment of two Pressurized Heavy Water Reactor facilities, crucial for expanding India’s fleet-mode nuclear projects.

Beyond Partnerships: NTPC’s Bold Nuclear Vision

NTPC’s commitment to nuclear energy doesn’t stop at ASHVINI. The company is also setting up a dedicated subsidiary, tentatively named NTPC Nuclear Power Company. This subsidiary is part of a vision laid out by NTPC Chairman and Managing Director Gurdeep Singh, who emphasized nuclear energy as essential to the company’s future, with a particular focus on emerging technologies like small modular reactors (SMRs).

With site evaluations underway in several states—including Gujarat, Tamil Nadu, Chhattisgarh, Odisha, and Karnataka—NTPC’s nuclear subsidiary is set to pave the way for more nuclear projects. Each potential location requires regulatory approval from the Atomic Energy Regulatory Board (AERB), and NTPC has already mobilized a dedicated team to ensure these projects are managed with the same level of expertise that has made its coal and thermal power stations a success.

As part of its nuclear expansion, NTPC is planning to establish a significant 10 GW of nuclear capacity over the next decade, backed by a substantial investment of Rs. 1.5 trillion. This initiative marks a new era for NTPC, positioning nuclear energy as a cornerstone of its long-term strategy for sustainable growth.

A New Era for NTPC and India’s Nuclear Future

India’s nuclear energy landscape is undergoing a significant transformation, with private companies like Tata Power, Reliance Industries, Adani Power, and Vedanta Ltd. being invited to invest in nuclear electricity projects, each contributing approximately $5.3 billion. The government’s goal of attracting $26 billion in private investment presents a unique opportunity in a sector historically dominated by state-owned entities. NPCIL will oversee the construction and operation of these nuclear plants, while the investing companies will benefit from revenue generated through electricity sales. NTPC’s decision to establish a dedicated nuclear subsidiary aligns with these broader government initiatives, solidifying its position as a key player in India’s nuclear energy growth.

With its vast resources and extensive experience in power generation, NTPC’s move into nuclear energy represents a major step forward in advancing India’s clean energy goals. Through its strategic partnerships with NPCIL, the creation of ASHVINI, and the development of a standalone nuclear subsidiary, NTPC is poised to play a pivotal role in the nation’s nuclear expansion. By incorporating nuclear power into its diverse energy portfolio, NTPC not only supports India’s clean energy ambitions but also secures its future as a leading force in the country’s evolving energy sector.