India's leading state-run power company, NTPC Ltd, is set to expand its nuclear power capacity to 30 gigawatts (GW) over the next two decades, tripling its earlier target. The ambitious project, expected to cost $62 billion, aligns with the country’s push for clean energy and reduced reliance on coal, according to sources familiar with the matter.

NTPC’s expansion comes after the Indian government announced plans to open the nuclear sector to private and foreign investments. The company has begun identifying potential sites across eight states, including Gujarat, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, and Tamil Nadu, to facilitate large-scale nuclear capacity additions.

Currently, India has nearly 8 GW of nuclear power capacity, with the state-run Nuclear Power Corporation of India Ltd (NPCIL) solely responsible for operations. The country aims to increase this capacity to 20 GW by 2032 and 100 GW by 2047 as part of its commitment to achieving 500 GW of non-fossil fuel electricity generation by 2030.

NTPC, which is already constructing two nuclear power plants in Madhya Pradesh and Rajasthan, has set up a dedicated unit, NTPC Parmanu Urja Nigam, to lead its investments in the sector. The company is also in talks with foreign firms, including Russia’s Rosatom, France’s EDF, and U.S.-based General Electric and Holtec International, for the development of small modular reactors (SMRs).

Recent discussions between India and France, as well as the United States, have signaled stronger cooperation in nuclear energy development. However, legal barriers remain a challenge, with India’s Atomic Energy Act of 1962 restricting private investment and the Civil Liability for Nuclear Damage Act of 2010 imposing strict liability rules on suppliers.

Finance Minister Nirmala Sitharaman has proposed amendments to these laws and announced a 200-billion-rupee ($2.3 billion) allocation for SMR research and development, with at least five such reactors expected to be operational by 2033.

The entry of private players, including Tata Power, Reliance Industries, Adani Power, and Vedanta, into the nuclear sector is anticipated as regulatory changes unfold. With NTPC taking the lead, India’s nuclear energy expansion could play a crucial role in meeting its long-term sustainability and energy security goals.