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NTPC seeks global uranium stakes to fuel India nuclear power expansion
NTPC said it needs overseas uranium exploration and mine acquisitions because domestic reserves and mining capacity are limited as India targets a tenfold increase in nuclear power over the next two decades.
Indian state-owned utility NTPC Ltd is looking to acquire stakes in uranium assets overseas to help secure fuel for a planned expansion of the country’s nuclear power capacity, OilPrice reports. The company, which is currently the only nuclear power generator in India, has issued a tender to hire consultants to identify potential uranium mines where it could invest.
According to the report, NTPC is considering uranium-producing countries including Australia, Canada, Kazakhstan, and South Africa. India’s existing uranium supply comes from the state-held Uranium Corporation of India (UCIL), which mines uranium in Jharkhand and Andhra Pradesh.
OilPrice notes that NTPC cited the need for a sustainable uranium fuel supply due to the “scale of planned capacity addition.” The firm said domestic fuel and mining reserves are limited, so it requires overseas exploration and the acquisition of uranium mines.
The report also ties the initiative to broader policy changes in India’s nuclear sector. In late 2025, India approved an Atomic Energy Bill that allows private companies to invest in the industry for the first time, as the government aims to boost installed nuclear power capacity tenfold within two decades.