NTPC approves draft MoU with UCIL to evaluate overseas uranium assets

NTPC Limited has approved a draft memorandum of understanding with Uranium Corporation of India Limited (UCIL) to jointly conduct techno-commercial due diligence of overseas uranium assets. 

The company is preparing to expand into nuclear generation both independently and through joint ventures. Its joint venture with Nuclear Power Corporation of India Limited (NPCIL), Anushakti Vidhyut Nigam Limited (ASHVINI), will implement the 2,800 MW Mahi Banswara nuclear power project in Rajasthan. NPCIL holds 51 per cent in the venture and NTPC 49 per cent.

In January 2025, NTPC also established a wholly owned subsidiary, NTPC Parmanu Urja Nigam Ltd (NPUNL), to pursue standalone nuclear projects. Alongside, NTPC is working with technology providers and state governments on additional nuclear opportunities. The company is in discussions with US-based Clean Core Thorium Energy to explore the use of its ANEEL (Advanced Nuclear Energy for Enriched Life) fuel technology.