National Thermal Power Corporation (NTPC) is in talks to buy a minority stake in US-based nuclear fuel technology company Clean Core Thorium Energy (CCTE).
In response to a BSE query, the public sector company stated that it continuously explores investment opportunities in both domestic and international markets. “In this context, the company is inter alia looking for a minority stake in Clean Core Thorium Energy,” the power giant noted.
Any investment decision will be subject to due diligence and statutory/regulatory approvals. The company did not disclose further information related to discussions underway.
NTPC looks for global collaborations
According to a PTI report, NTPC is exploring multiple international collaborations in the areas of technology and fuel, including a minority equity investment in CCTE, to advance its nuclear ambitions. According to the report, NTPC has entered into non-disclosure agreements with global energy players Rosatom and EDF to explore collaboration on deploying large pressurised water reactor projects in India.
The US-based Clean Core Thorium Energy has developed a patented thorium and enriched uranium nuclear fuel called ANEEL. It claims that the fuel is compatible with existing pressurised heavy water reactors (PHWR)/Canada Deuterium Uranium (CANDU) reactors.
NTPC’s nuclear energy vision
NTPC aims to establish around 30 GW of company-owned nuclear projects across various locations in the country, in line with the government’s ambition to reach 100 GW of nuclear capacity by 2047. The report stated that NTPC is eyeing 2 GW of nuclear capacity as early as 2032.
Currently, NTPC is establishing a nuclear project in a joint venture (JV) with Nuclear Power Corporation of India Ltd. (NPCIL) in Rajasthan, at an estimated investment of approximately Rs 42,000 crore.
The company has accelerated its nuclear plans following recent legislative changes aimed at attracting investments in this space. Meanwhile, NTPC is actively evaluating land options in states such as Gujarat, Madhya Pradesh, Bihar, Andhra Pradesh, among others, for potential nuclear sites. It will finalise the locations after seeking approval from the Atomic Energy Regulatory Board.
Established in 1975 as a thermal power generator, NTPC Ltd has steadily expanded and diversified into new energy sources. According to the NTPC website, the company has an installed capacity of over 85,000 MW at the group level, spanning coal, gas/liquid fuel, hydro, and solar power.