NTPC Ltd: PSU Stock surges over 3% as company plans to build 30GW nuclear power capacity

State-run NTPC, a power sector public sector undertaking, plans to develop 30 gigawatts (GW) of nuclear power capacity over the next two decades, which is three times more than its initial target of 10 GW. This expansion comes in light of a recent government announcement aimed at encouraging foreign and private investment in the nuclear sector, according to three sources.

"NTPC intends to lead India's nuclear power development just as it has in the thermal sector," one source commented. "The sites identified for this initiative show great promise and offer significant potential for capacity expansion."

Currently, the Nuclear Power Corporation of India is the sole operator of the country's nearly 8 GW of nuclear capacity, with plans to increase this to 20 GW by 2032. NTPC is already in the process of constructing two nuclear plants, each with a capacity of 2.6 GW, located in Madhya Pradesh and Rajasthan.

Additionally, NTPC is seeking early approvals for land in eight states to conduct detailed studies in 27 different locations. This effort follows challenges faced in the past due to public opposition and land acquisition issues that have hindered India's ambitions in atomic energy.

As of now, shares of NTPC are trading above 3.19% at Rs 312.0.

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