NTPC Looks Overseas for Uranium Assets to Support 30 GW Nuclear Expansion

State-owned power producer NTPC has initiated plans to explore investments in overseas uranium mining assets as part of its long-term strategy to secure fuel supplies for an ambitious 30 GW nuclear power programme planned over the next two decades.

According to tender documents, the company has invited bids from consultants to identify and evaluate potential uranium mining opportunities in major producing countries, including Canada, Australia, Kazakhstan and South Africa. The selected consultant will assess commercially viable assets, analyse regulatory and geopolitical risks, and recommend suitable acquisition or investment opportunities. Bids for the consultancy are due on July 16.

The move reflects NTPC’s broader push to diversify beyond thermal power and emerge as a key player in India’s expanding nuclear energy sector. The company has set a target of developing 30 GW of nuclear power capacity, accounting for nearly one-third of India’s national goal of achieving 100 GW of installed nuclear capacity by 2047.

Securing long-term uranium supplies is expected to become increasingly important as India’s nuclear fleet expands. While the country imports uranium under civil nuclear cooperation agreements with several nations, acquiring stakes in overseas mines could provide greater supply security and reduce exposure to market volatility.

The overseas mining initiative comes alongside NTPC’s efforts to develop large-capacity nuclear projects within India. Earlier this week, the company invited expressions of interest from global consultants to support the development of pressurised water reactor (PWR)-based nuclear projects, including preparing tender documents, evaluating bids and assisting in contract awards.

NTPC has also been identifying potential sites across multiple states for future nuclear power plants and is exploring partnerships with international reactor technology providers as India opens its nuclear sector to greater private and foreign participation.

India currently has an installed nuclear power capacity of just over 8 GW, but the government has outlined plans to expand this to at least 100 GW by 2047 as part of its clean energy transition and energy security strategy. The planned expansion is expected to significantly increase demand for uranium, making long-term fuel procurement a strategic priority for developers such as NTPC.

References

• NTPC Limited. Tender for Appointment of Consultant for Identification and Evaluation of Overseas Uranium Mining Assets. Available at: https://ntpctender.ntpc.co.in/NITDetails/NITs/30025
• Reuters. India’s NTPC seeks global partners to build 15 GW nuclear reactors. April 2, 2025. Available at: https://www.reuters.com/business/energy/indias-ntpc-seeks-global-partners-build-15-gw-nuclear-reactors-2025-04-02/
• Bloomberg. India’s NTPC Scopes Overseas Uranium Mines to Fuel Nuclear Expansion. July 2026.
• The Economic Times. NTPC gets into action to develop mega PWR-based nuclear projects. Available at: https://economictimes.indiatimes.com/industry/energy/power/ntpc-gets-into-action-to-develop-mega-pwr-based-nuclear-projects/articleshow/132225282.cms
• Department of Atomic Energy, Government of India. Nuclear Power Programme and Capacity Expansion. https://dae.gov.in