State power company NTPC plans to buy uranium mines abroad for its nuclear power expansion. The company has issued a tender to appoint a consultant to identify and evaluate mining opportunities globally.
NTPC’s big plan for nuclear energy expansion
State power company NTPC is planning to acquire uranium mining assets abroad as part of a strategy to secure long-term fuel supply for its planned nuclear power expansion plan. This information has been received from a tender issued by the company.
As per the tender document, NTPC has launched a nuclear capacity addition plan to contribute 30 GW to the national nuclear capacity target. To accelerate this programme, the company has also set up a wholly owned subsidiary, NTPC Nuclear Power Corporation Limited (NPUNL) to execute nuclear power projects independently.
The tender states that the scale of planned nuclear expansion requires a permanent supply of uranium. Given the extent of domestic uranium reserves and mining potential, NTPC has proposed exploration and acquisition of uranium mining assets abroad.
Tender issued for appointment of consultant
As part of this process, NTPC intends to appoint a consultant to identify and evaluate suitable uranium mining opportunities globally. This consultant will assist the company in identifying available mining properties and assessing acquisition opportunities.
Potential target countries include Australia, Canada, Kazakhstan and South Africa. The tender document reads, “NTPC intends to appoint a consultant to assist in identifying and evaluating available global opportunities for acquisition of uranium mining assets. Potential target countries may include, among others, Australia, Canada, Kazakhstan, South Africa, etc. NTPC will define its annual uranium volume requirements to be produced and sourced from potential overseas mines.”
India aims to have 100 GW nuclear capacity by 2047
The move comes as the Government of India has set a strategic target of achieving 100 GW of nuclear power capacity by 2047, in line with the country’s goal of achieving net zero emissions by 2070.
As per the tender, NTPC will define its annual uranium requirement to be produced and procured from prospective overseas mines. Based on these requirements, the Consultant, in consultation with NTPC and its joint venture or subsidiary, will prepare, invite, process, evaluate and finalize a Global Proposal (RFP) for suitable acquisition opportunities.
scope of work of the consultant
The consultant will also conduct a comprehensive assessment of the global uranium mining sector and identify opportunities across the entire value chain, including greenfield projects, brownfield or development projects and operating mines.
The scope of work includes preparing the RFP, defining technical and financial eligibility criteria, evaluating the bids and preparing a shortlist of qualified counterparties.
NTPC’s tender document also states that after the shortlisting process, the consultant will conduct a detailed techno-commercial appraisal of the identified assets using internationally accepted valuation methodologies and industry best practices. (ANI)
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