Global nuclear giants partner with NTPC as India opens atomic sector
NTPC Ltd, India's largest integrated power generator, is emerging as a central player in the country's nuclear energy landscape following recent legislative changes that eased liability norms and allowed greater private and foreign participation. The state-owned company is attracting interest from international nuclear technology providers seeking entry into the Indian market.
New Jersey-based Holtec International, known for its small modular reactor SMR-300, is in advanced discussions with NTPC and could formalise a partnership as early as next month, according to sources. This follows a non-binding Memorandum of Understanding signed in April with France's Électricité de France (EDF) to explore cooperation in new nuclear projects. NTPC has also inked an agreement with Russia's Rosatom for its VVER pressurised water reactors.
In January, NTPC informed stock exchanges that it is in talks to buy a minority stake in US-based Clean Core Thorium Energy (CCTE) to develop and deploy thorium-based fuel for India's existing nuclear stations, subject to regulatory approvals. Both Holtec and Clean Core have obtained specific authorisations from the US government under the restrictive 10CFR810 regulation, allowing technology transfer to Indian entities.
NTPC's unique position stems from being, alongside the Nuclear Power Corporation of India Ltd (NPCIL), the only state-owned power company currently constructing a nuclear plant. Through its joint venture ASHVINI with NPCIL, NTPC is developing the 2,800 MWe Mahi Banswara Rajasthan Atomic Power Project. The company has secured capacity consent for 2,770 MWe from customers in four states, with first concrete pour expected by August 2027 and grid synchronisation targeted for November 2032.
Policy analysts note that NPCIL's monopoly over pressurised heavy water reactor (PHWR) technology, which India has mastered, is increasingly out of step with the globally dominant light water reactors (LWRs) offered by American, French, and Russian firms. NTPC's growing expertise and partnerships position it as a key counterpart for international reactor deployment in India.
