NTPC Plans Nuclear Energy Project in Bihar to Boost Non-Fossil Portfolio

Shares of NTPC, the state-owned power giant, are expected to garner attention on Friday following its announcement of plans to establish a nuclear energy project in Bihar. This move marks a significant milestone in the company's efforts to expand its portfolio in non-fossil energy. The announcement was made by NTPC's Chairman and Managing Director, Gurdeep Singh, during the 'Bihar Business Connect 2024' summit held on Thursday.

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To advance its nuclear energy initiative, NTPC has approached the Bihar government for a suitable land parcel. Highlighting the strategic importance of nuclear energy, Singh remarked, "Nuclear energy is anticipated to play a vital role over the next 20-30 years. NTPC is now venturing into the nuclear energy sector."

While specifics about the project are yet to be disclosed, NTPC has indicated that feasibility studies will precede any further developments.

Earlier, in September, the Indian government approved the establishment of Anushakti Vidhyut Nigam Ltd (ASHVINI), a joint venture between the Nuclear Power Corporation of India Ltd (NPCIL) (holding 51%) and NTPC (holding 49%). The venture is authorized to build, own, and operate nuclear power plants across India under the Atomic Energy Act.

Singh also expressed NTPC's interest in pursuing various renewable energy projects in Bihar, including rooftop solar, ground-mounted solar, floating solar, pumped storage, and battery energy storage solutions.

"We aim to achieve a substantial share of our targeted 60,000 MW renewable energy capacity by 2032 in Bihar," Singh noted.

Currently, NTPC has an installed capacity of 8,850 MW in Bihar, representing an investment of approximately ₹80,000 crore. The company is also exploring the establishment of battery storage systems with a capacity of 3,000–4,000 MWh in the state.

Additionally, Nabinagar Power Generating Company Ltd (NPGCL), an NTPC subsidiary, has commenced work on a 2,400 MW power project in Bihar.

Overall, NTPC’s total installed capacity stands at 76,531 MW, encompassing thermal, solar, wind, and other renewable energy sources.