Kerala: NTPC, the government-owned power company, is contemplating the creation of a new subsidiary dedicated to nuclear energy. Gurdeep Singh, the chairman and managing director, revealed during the company's 48th annual general meeting that NTPC is preparing to launch the 2.8-gigawatt Mahi Banswara nuclear project in Rajasthan. This project will be developed in partnership with Nuclear Power Corporation of India’s joint venture, Anushakti Vidhyut Nigam (ASHVINI), with an anticipated investment of Rs 50,000 crore.
NTPC has also entered a joint venture with NPCIL for the Mahi Banswara project and another nuclear plant in Chutka, Madhya Pradesh, with a capacity of 1.4 GW. However, NPCIL has decided to handle the Chutka project independently. The company is exploring additional locations for nuclear plants in Tamil Nadu, Karnataka, Jharkhand, Chhattisgarh, Gujarat, and other states, and is working on obtaining necessary permits.
NTPC is expediting projects totaling 12 gigawatts (GW) by the fiscal year 2029-30 and aims for a capital expenditure of Rs 7 lakh crore by FY32. The company is focusing on completing a 9.5 GW thermal capacity pipeline and has tendered for an additional 10.4 GW. NTPC is on track to achieve its goal of 60 GW of renewable energy by 2032.
Singh highlighted NTPC's shift from conventional engineering, procurement, and construction (EPC) models to sourcing components and integrating resources such as solar PV modules. The company is also advancing in green hydrogen, green chemicals, and carbon capture technologies. NTPC has partnered with leading energy companies like IOCL, ONGC, Nalco, and HPCL, which Singh believes will support India’s goal of a carbon-neutral economy.
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