India’s largest power producer is placing the biggest energy bet in the country’s history on an unlikely hero: nuclear power. NTPC’s plan to build 30 gigawatts (GW) of nuclear capacity by 2047 could require an investment of roughly Rs 4.5 to 6 lakh crore, based on industry cost estimates cited in a new report, and the company is quietly widening its hunt for sites across the country.
A senior company official told news agency PTI that feasibility studies have already been completed in Madhya Pradesh, Bihar and Odisha, and NTPC is now preparing to start studies in more states, including Uttar Pradesh. The expansion of the site search signals that the power giant’s nuclear ambitions are moving from paper to groundwork.
What the Rs 6 lakh crore estimate actually covers
The headline figure comes from a simple calculation. Industry estimates put the cost of nuclear capacity at roughly Rs 15,000 to Rs 20,000 crore per GW. Multiply that by 30 GW, and you land at Rs 4.5 to Rs 6 lakh crore. Two important caveats: this is not an expenditure commitment announced by NTPC, and the final cost will depend on which projects and technologies the company eventually chooses.
To put it in perspective, NTPC’s chairman and managing director Gurdeep Singh recently said the company plans to invest around Rs 17 lakh crore over the next ten years across thermal, gas, nuclear and storage technologies. Of that, about Rs 7 lakh crore will be deployed in the next five years alone. The nuclear programme, while massive, sits inside a much larger pivot away from the company’s coal-fired roots.
- Indicative cost: Rs 15,000-20,000 crore per GW of nuclear capacity
- 30 GW target: Rs 4.5-6 lakh crore total, per industry estimates
- NTPC’s total planned capex: Rs 17 lakh crore over the next decade
- Status: estimate, not an official NTPC spending commitment
Site search: three states done, many more on the list
The site hunt is the clearest sign of serious intent. Beyond the completed feasibility studies in Madhya Pradesh, Bihar and Odisha, NTPC has been in talks with the governments of 16 states, including Andhra Pradesh, Gujarat, Maharashtra, Tamil Nadu and Chhattisgarh, to acquire land for nuclear plants.
The company plans to develop large pressurised heavy water reactors (PHWRs) ranging from 700 MW to 1,600 MW. For the bigger units, NTPC is open to collaborating with foreign players, while it could build the smaller ones on its own.
The institutional scaffolding is already in place. In January, NTPC incorporated NTPC Parmanu Urja Nigam Ltd to lead its nuclear business. It has already entered the segment with the 4×700 MW Mahi Banswara project in Rajasthan, developed jointly with the Nuclear Power Corporation of India Ltd (NPCIL), whose foundation stone was laid by Prime Minister Narendra Modi in September 2025. The company has also started training about 60 employees in nuclear operations at its Power Management Institute in Noida and is exploring uranium mine acquisitions abroad.
Where this fits in India’s 100 GW nuclear dream
India currently has around 8 GW of installed nuclear capacity across 23 operational reactors, all run by NPCIL. The official targets are 22.5 GW by 2031 and a full 100 GW by 2047. NTPC’s 30 GW alone would cover nearly a third of that national goal.
Speaking at the India Energy Summit on October 13, Singh framed the challenge bluntly. Nearly 70 per cent of India’s power still comes from coal, and generation from coal stations surged 18 per cent this month on the back of El Nino-linked weather, baseline economic expansion, cooling demand and the power-hungry rise of artificial intelligence data centres.
“It is not a question of thermal versus renewable,” he said. “The real question is whether we are able to get the power on demand and that will be also affordable.” Nuclear, he indicated, will form the next leg of growth after FY32, while renewable energy drives the nearer term. The plan: renewables from about 12 GW today to 60 GW by FY32 and 136 GW by FY37, backed by a 38.9 GWh battery storage pipeline and a Rs 1 lakh crore green hydrogen hub coming up at Pudimadaka near Visakhapatnam.
Why nuclear, and why now
Nuclear power gives grid planners something renewables alone cannot: round-the-clock, carbon-free electricity that does not depend on sunshine or wind. For a country where peak power demand keeps smashing records, that baseload reliability is exactly what the “power on demand” question is about.
There are real hurdles ahead. Nuclear projects need Department of Atomic Energy and Atomic Energy Commission clearances, massive land parcels, long gestation periods and public acceptance in host communities. But with the site search spreading to more states and the first joint project with NPCIL already underway, NTPC’s nuclear bet is no longer a distant aspiration. It is a pipeline.
FAQs
How much will NTPC’s 30 GW nuclear plan cost?
Based on industry cost estimates of Rs 15,000 to 20,000 crore per GW, cited in a PTI report, the plan could involve an investment of Rs 4.5 to 6 lakh crore. This is an indicative figure, not an official spending commitment by NTPC.
When will NTPC’s nuclear plants be built?
The 30 GW target is set for 2047. The company expects nuclear to become a major growth driver after FY32, with about 6 GW targeted by FY37. The 4×700 MW Mahi Banswara project in Rajasthan, built with NPCIL, is already underway.
Which states could host NTPC’s nuclear plants?
Feasibility studies are complete in Madhya Pradesh, Bihar and Odisha, with more states including Uttar Pradesh on the list. NTPC is in talks with 16 states overall, among them Andhra Pradesh, Gujarat, Maharashtra, Tamil Nadu and Chhattisgarh.
What is India’s national nuclear power target?
India aims for 22.5 GW of nuclear capacity by 2031 and 100 GW by 2047. The country currently has about 8 GW across 23 operational reactors, all run by NPCIL.
NTPC’s nuclear push is one of the biggest infrastructure stories of the decade. Watch this space for updates as new sites are confirmed and clearances move through the system.
