Commodities
Home›Commodities›Energy Transition›NTPC seeks offshore uranium financing for India nuclea…
NTPC seeks offshore uranium financing for India nuclear expansion
NTPC plans to add about 30 GW of nuclear capacity by 2047, roughly a third of India’s 100 GW target, and is hiring consultants for projects in Canada, Kazakhstan, Australia and South Africa.
India’s state-owned power producer NTPC is seeking help financing uranium mines overseas to support a major expansion of the country’s nuclear power capacity, according to Mining.com citing The Economic Times.
NTPC’s plan is tied to India’s Nuclear Energy Mission, which targets raising installed nuclear generating capacity from about 8.8 GW today to 100 GW by 2047. The company expects to develop about 30 GW itself, which would account for nearly a third of the national goal.
NTPC has issued a tender to appoint consultants to identify potential uranium sources in countries including Canada, Kazakhstan, Australia and South Africa, with bids due by Thursday.
The mine search comes as India increases efforts to secure uranium supply. Mining.com notes that Australia finalized administrative arrangements on a uranium supply deal for civilian nuclear use without specifying volumes, and that India has also signed a $1.9 billion deal with Cameco for uranium ore concentrate and a supply agreement with Kazatomprom. India currently relies on domestic uranium from Uranium Corp. of India, where production is described as medium tonnage and low-grade.