NTPC Ltd has officially confirmed it is in active discussions to acquire a minority stake in US-based nuclear fuel technology company Clean Core Thorium Energy (CCTE), marking a significant development in the power giant's nuclear expansion strategy.

Official Confirmation of Investment Talks

In its latest response to BSE queries, NTPC confirmed its ongoing negotiations with the American nuclear technology firm. The state-owned power company stated that it continuously explores investment opportunities in domestic and international markets, and in this context, is specifically looking for a minority stake in Clean Core Thorium Energy.

Strategic Nuclear Technology Partnership

The discussions represent NTPC's broader strategy to strengthen its nuclear capabilities through international collaborations. Clean Core Thorium Energy has developed a patented thorium and enriched uranium nuclear fuel called ANEEL, which the company claims is compatible with existing pressurised heavy water reactors (PHWR) and Canada Deuterium Uranium (CANDU) reactors.

Nuclear Expansion Ambitions

This potential partnership aligns with NTPC's ambitious nuclear expansion plans. The power generation major aims to establish approximately 30.00 GW of company-owned nuclear projects across various locations in India, supporting the government's target of achieving 100.00 GW nuclear capacity by 2047.

Previous Clarification Context

This confirmation follows NTPC's earlier clarification where the company had stated that no formal agreements had been entered into with CCTE. The company had emphasized its commitment to regulatory compliance and transparent disclosure of material developments affecting its securities.

Investment Decision Framework

NTPC has indicated that any final investment decision will remain subject to comprehensive due diligence processes and necessary statutory and regulatory approvals. The company has not disclosed specific financial details or timeline for the potential minority stake acquisition, maintaining its standard approach to material investment announcements.

NTPC is aggressively pursuing nuclear power expansion with ambitious plans to establish approximately 30 GW of nuclear projects across India by 2047, aligning with the government's target of achieving 100 GW of nuclear capacity. The power generation major is seeking various international partnerships in technology and fuel to advance its nuclear sector plans and diversify its energy generation efforts.

Nuclear Capacity Targets and Timeline

The company has set clear milestones for its nuclear expansion program, targeting 2 GW of nuclear capacity as early as 2032. This phased approach demonstrates NTPC's commitment to systematic growth in the nuclear power sector while supporting national energy security objectives.

Strategic Technology Partnerships

NTPC has signed non-disclosure agreements with global energy companies Rosatom and EDF to explore collaboration for implementing large pressurised water reactor projects within India. Additionally, the company is working with Holtec International to investigate the use of small modular reactors (SMRs) in forthcoming nuclear initiatives. SMRs present potential benefits, including modular construction, improved safety features, and their adaptability for phased deployment.

Site Selection and Investment Plans

NTPC is actively reviewing land options for nuclear facilities in states such as Gujarat, Madhya Pradesh, Bihar, and Andhra Pradesh, with final site selections to be made after obtaining approval from the Atomic Energy Regulatory Board. Currently, NTPC is developing a nuclear project in collaboration with Nuclear Power Corporation of India Ltd (NPCIL) in Rajasthan, with an estimated investment of around ₹42,000 crore.

Advanced Fuel Technology Assessment

The company is also assessing a minor equity investment in US-based Clean Core Thorium Energy (CCTE) as a strategic early-stage investment, contingent on the completion of required due diligence and obtaining the necessary statutory and regulatory approvals. CCTE has created a patented thorium and enriched uranium nuclear fuel known as ANEEL, claiming it is compatible with existing pressurised heavy water reactors (PHWR) and Canada Deuterium Uranium (CANDU) reactors.