NTPC Sets Sights on Overseas Uranium to Fuel India’s Nuclear Ambitions

India’s state-backed energy giant NTPC has launched a major overseas uranium acquisition strategy to secure fuel for its fast-expanding nuclear programme. As the government ramps up its decarbonisation drive, NTPC is positioning itself beyond coal and renewables, with flagship projects such as the 2,800 MW Mahi Banswara Nuclear Power Station in Rajasthan at the forefront.

Securing Energy Sovereignty

Amid global commodity volatility and geopolitical risks, NTPC’s move seeks to lock in uranium supplies for decades. Partnering with the Uranium Corporation of India Limited (UCIL), the company will jointly explore, evaluate, and potentially acquire uranium mining assets abroad. The aim is to shield India’s nuclear plans from the price swings and supply disruptions of the global spot market — ensuring stable, cost-effective baseload power.

Partnerships and Technological Edge

NTPC’s board has also approved tie-ups with global reactor and fuel technology leaders, signalling ambitions that extend beyond raw uranium. Securing expertise in next-generation reactors and fuel recycling will be critical to building sustainable nuclear capacity and reducing long-term fuel risks.

Policy and Sectoral Impact

The initiative aligns with India’s multi-decade vision to source 50% of its electricity from non-fossil fuels by 2030. By building resilient uranium supply chains, NTPC is reinforcing a low-carbon, reliable grid, anchoring the Make in India nuclear ecosystem and ensuring the country’s clean energy transition remains on track through mid-century and beyond.