NTPC may go into nuclear power too

8 Dec 2022 , 03:13 PM

The nation's effort to move away from coal and reduce emissions to attain net zero by 2070 would be aided by NTPC Ltd., India's largest power producer, which plans to build a sizable nuclear fleet.

According to news reports, the state-run corporation hopes to construct 20 to 30 gigawatts of nuclear power by the year 2040. The source asked ET to remain anonymous to discuss the private proposals and added that the target is still speculative. India now has 22 operational reactors with a combined capacity of roughly 6.8 gigawatts.

According to numerous persons with knowledge of the company's intentions who talked to ET, the New Delhi-based NTPC is exploring using small-scale modular reactors, often known as SMRs, as part of the strategy. Over 80% of the power fleet owned by the producer, which has a total capacity of 70 gigawatts, is coal-fired.

In a joint venture with the state-run Nuclear Power Corp. of India Ltd., which now manages all of India's atomic generation capacity, the company would continue to pursue larger projects, the sources added. According to one of the persons, NTPC has put together a 15-person team in Mumbai to advance its nuclear ambitions.

As Asian and European nations seek to decarbonize, deal with a shortage of natural gas and other fuels as a result of Russia's invasion of Ukraine, and work to increase their energy independence, nuclear power is experiencing a renaissance. All three countries–China, Japan, and South Korea–want to construct additional reactors.

According to the report, NTPC is exploring developing SMRs with a power range of 100 to 300 megawatts. According to one of the sources who talked to ET, the state-run energy generator prefers the smaller reactors because they would be quicker to build and simpler to modify to the grid's requirements. They can also be put in place off the grid in isolated locations with poor connectivity.

SMRs, however, are still very much in their infancy, with very few projects being undertaken globally. According to the International Atomic Energy Agency, there are two 35-megawatt reactors that are operational at a floating nuclear project in Russia and others that are being built or are in the licensing stage in nations like the United States, Canada, China, and Argentina.

By 2032, NTPC wants to cut the percentage of fossil fuels in its overall capacity from roughly 90% to almost 50%. More nuclear, solar, wind, and hydropower plants will be the driving forces behind this transition.

According to the report, the business intends to complete finding a significant investment for its renewables unit by March 2023 and would then move forward with an initial public offering. On the list of early bidders are Abu Dhabi National Energy Co., Canada Pension Plan Investment Board, and Brookfield Asset Management Inc.

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