Nuclear Power Corporation of India

What Nuclear Power Corporation of India does

Nuclear Power Corporation of India Limited (NPCIL) is a Government of India Public Sector Undertaking under the Department of Atomic Energy, incorporated on 17 September 1987 and headquartered in Mumbai. NPCIL is the sole operator of India's commercial nuclear power fleet, currently managing 24 operating reactors with 8,780 MW of installed capacity across seven sites (Tarapur, Rajasthan, Madras/Kalpakkam, Narora, Kakrapar, Kaiga, and Kudankulam), plus 7 reactors under construction adding 6,100 MW. The portfolio comprises indigenous Pressurised Heavy Water Reactors (PHWRs) at 220 MW, 540 MW, and 700 MW capacities, Russian-sourced VVER-1000 reactors at Kudankulam, and the recently-achieved Prototype Fast Breeder Reactor (PFBR) at Kalpakkam, advancing India's three-stage thorium-based nuclear programme.

NPCIL's core technology has been progressively indigenised, including domestically manufactured 700 MW nuclear steam generators by Larsen & Toubro and indigenous control and instrumentation systems developed through a partnership with Electronics Corporation of India (ECIL). Fleet-mode construction of standardised 700 MW PHWRs is the primary scaling mechanism, with 10 such reactors approved for rollout across Kaiga, GHAVP, Chutka, and Mahi Banswara sites. The company maintains capacity factors above 80% across its fleet and generated 56,681 million units in FY2024-25 — the highest single-year output ever.

NPCIL's business model is a regulated utility: electricity is sold exclusively to state electricity boards and distribution companies through long-term power purchase agreements at government-approved tariffs (~₹7.77-7.78/kWh). FY26 standalone revenue was ₹21,045.32 crore with net profit of ₹5,201.96 crore (up 9.81% YoY). Customers are state-owned distribution utilities and the Government of India itself, with the company operating under a sovereign-backed regulatory moat, AAA credit ratings from CRISIL and CARE, and an 11-fold capacity expansion roadmap targeting 100 GW by 2047.

Name

Nuclear Power Corporation of India

Legal name

Nuclear Power Corporation of India Limited

Website

https://npcil.nic.in

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Nuclear Power Corporation of India Limited (NPCIL) is India's state-owned nuclear power utility, operating 24 commercial reactors totaling 8,780 MW under the Department of Atomic Energy and selling electricity exclusively to state electricity boards through long-term regulated power purchase agreements.

Ownership category

akta.pro rank

Product category

Nuclear Power Generation

NAICS

Nuclear Electric Power Generation (221113)

akta.pro primary industry

Pressurized Heavy Water Reactor (PHWR/CANDU) Power Generation (EUACADAC)

akta.pro secondary industries

Pressurized Water Reactor (PWR) Power Generation (EUACADAA), Boiling Water Reactor (BWR) Power Generation (EUACADAB), Fast Neutron Reactor (SFR/LFR) Power Generation (EUACADAE), Nuclear Power Plant Operations & Maintenance (O&M) (EUACADAO), Gen IV / Advanced Reactor Systems (SFR, LFR, GFR, MSR, HTGR, Microreactors) (EUAKADAC)

Keywords

• Nuclear power generation
• Atomic power plants
• Baseload electricity supply
• Pressurised heavy water reactors
• Nuclear reactor operations

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Distribution channels1 record

Marketing channels6 records

Core offering

NPCIL operates 24 commercial nuclear power reactors across India with 8,780 MW installed capacity, comprising indigenous Pressurised Heavy Water Reactors (PHWR) and Russian-sourced VVER reactors. The company generates and sells baseload electricity to state electricity boards and distribution companies through long-term power purchase agreements at government-regulated tariffs, while also constructing 7 additional reactors totalling 6,100 MW under India's Nuclear Energy Mission to scale capacity to 100 GW by 2047.

Product overview

Nuclear Power Corporation of India Limited (NPCIL) operates as India's primary nuclear power utility, managing a fleet of commercial nuclear power reactors. The portfolio consists of 24 operating reactors with 8,780 MW installed capacity, comprising Pressurised Heavy Water Reactors (PHWR) of various capacities (220 MW, 540 MW, 700 MW) at multiple stations, and VVER reactors (1,000 MW) at Kudankulam. The company also operates 7 reactors totaling 6,100 MW under construction. NPCIL's services include nuclear power generation, plant operation, and maintenance across its fleet of indigenous and internationally sourced reactor technologies.

Differentiator

Problem solved

Functional benefit

Products and services

• Nuclear Power Generation Services End-to-end electricity generation services from commercial nuclear power plants, providing reliable 24x7 baseload power to state electricity boards and distribution companies through long-term power purchase agreements at government-regulated tariffs.
• Tarapur Atomic Power Station (TAPS) Operating nuclear power station with 2x160 MW BWR and 2x540 MW PHWR units, providing baseload electricity to state electricity boards. The world's oldest commercially operating nuclear reactors (Units 1 and 2, commissioned 1969) returned to service after refurbishment.
• Rajasthan Atomic Power Station (RAPS) Operating nuclear power station with mixed-capacity PHWR units (100 MW, 200 MW, 220 MW) and 700 MW PHWR units, providing baseload electricity generation under NPCIL's indigenous PHWR programme.
• Madras Atomic Power Station (MAPS) Operating nuclear power station at Kalpakkam with 2x220 MW PHWR units. The site also houses the Indira Gandhi Centre for Atomic Research and the Prototype Fast Breeder Reactor (PFBR), making it a strategic centre for India's nuclear research and advanced reactor development.
• Narora Atomic Power Station (NAPS) Operating nuclear power station with 2x220 MW PHWR units in Uttar Pradesh, providing baseload electricity to northern Indian state electricity boards.
• Kakrapar Atomic Power Station (KAPS) Operating nuclear power station in Gujarat with 2x220 MW PHWR units and 2x700 MW PHWR units, the latter representing the first domestically designed 700 MW PHWRs in operation.
• Kaiga Generating Station Operating nuclear power station in Karnataka with 4x220 MW PHWR units, with 2x700 MW PHWR units under construction. Recipient of National Safety Award for outstanding safety performance.
• Kudankulam Nuclear Power Project (KKNPP) Nuclear power project in Tamil Nadu with 2x1000 MW VVER reactors in operation and 4x1000 MW VVER reactors under construction, developed with Russian technical cooperation. India's largest nuclear power complex with 6,000 MW total planned capacity.
• Prototype Fast Breeder Reactor (PFBR) at Kalpakkam India's first commercial Prototype Fast Breeder Reactor located at Kalpakkam, achieving first criticality in April 2026. Forms the second stage of India's three-stage thorium-based nuclear energy programme and is supported by NPCIL in collaboration with BHAVINI.

Quantifiable outcome

• 56,681 million units of electricity generated in FY2024-25, the highest ever in a single year
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered major and core.

• Électricité de France (EDF)majorTechnology or Integration · 22 July 2026Discussions ongoing between EDF (France) and NPCIL for potential participation in India's nuclear power projects, including the proposed Jaitapur nuclear power plant. EDF offers EPR technology (1,650 MW reactors) and has been in negotiations with India for over 15 years. The SHANTI Act 2025 now permits direct participation by French companies in India's nuclear sector.
• Westinghouse Electric CompanymajorTechnology or Integration · 22 July 2026Discussions ongoing between US-based Westinghouse and NPCIL for potential technology sourcing for India's nuclear programme. Westinghouse offers AP1000 reactor technology (1,150 MW). US nuclear companies including Westinghouse, Holtec, and Clean Core Thorium have received 10 CFR Part 810 authorisations enabling technology transfer to Indian entities.
• Electronics Corporation of India Ltd (ECIL)coreTechnology or Integration · 20 July 2026NPCIL and Electronics Corporation of India Ltd (ECIL) signed an MoU to establish a long-term technology partnership for India's nuclear power programme, focusing on indigenous control and instrumentation systems, computer-based systems, nuclear instrumentation, training simulators, and cybersecurity solutions. The collaboration aims to reduce dependence on imported systems and improve standardisation of critical systems for operating and upcoming nuclear power projects.
• BHAVINI (Bharatiya Nabhikiya Vidyut Nigam Limited)coreStrategic or Co-development Partner · 11 July 2026NPCIL and BHAVINI (Bharatiya Nabhikiya Vidyut Nigam) collaborate on India's fast breeder reactor programme. NPCIL supports the Prototype Fast Breeder Reactor (PFBR) at Kalpakkam, which achieved first criticality in April 2026, making India only the second country after Russia to operate a commercial fast breeder reactor. This advances the second stage of India's three-stage thorium-based nuclear programme.
• Rosatom / Atomstroyexport (Russia)coreTechnology or Integration · 5 June 2026Russia's Rosatom, through Atomstroyexport (ASE), is the technical partner for the Kudankulam Nuclear Power Project — India's largest nuclear power complex with six 1,000 MW VVER reactors. Units 1-4 are operational or in advanced construction stages, while Units 5 and 6 received AERB clearance for major equipment erection. India-Russia nuclear cooperation continues under the 1988 inter-governmental agreement, with bilateral trade targeted at $100 billion.
• NLC India LimitedcoreStrategic or Co-development Partner · 25 May 2026NLC India Limited (NLCIL) and NPCIL signed an MoU to form a joint venture company for developing 700 MW indigenous Pressurised Heavy Water Reactor-based nuclear power projects across India. The partnership aligns with India's target of 100 GW nuclear capacity by 2047 and supports clean energy transition and net-zero carbon emissions objectives.
• NTPC LimitedcoreStrategic or Co-development Partner · 26 September 2025ASHVINI (Anushakti Vidhyut Nigam Limited), the 49:51 joint venture between NTPC and NPCIL, is executing the Mahi Banswara Rajasthan Atomic Power Project — India's first nuclear power plant not wholly owned by NPCIL. The project covers four 700 MW indigenous PHWRs totalling 2,800 MW with an investment of approximately ₹42,000 crore. ASHVINI floated a ₹280 billion EPC tender for the nuclear island package, the largest under India's indigenous PHWR programme.

Scale indicators16 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• Ontario Power Generation: Ontario Power Generation operates nuclear power plants using CANDU (PHWR) technology, the same reactor type as NPCIL's domestic fleet. OPG owns and operates Pickering and Darlington nuclear stations in Canada, making it the most direct international peer to NPCIL's fleet operations and refurbishment/life-extension programmes.
• Korea Hydro & Nuclear Power (KHNP): KHNP is South Korea's state-owned nuclear power utility operating 24+ commercial reactors including PWR technology with plans for SMR deployment. Comparable to NPCIL as a national nuclear utility with mixed indigenous and imported technology, fleet expansion plans, and government backing for export ambitions.
• Rosenergoatom: Rosenergoatom is Russia's state-owned nuclear power utility operating the world's largest commercial nuclear fleet including VVER and fast breeder reactors (BN-800). Directly comparable to NPCIL through the Kudankulam VVER partnership and shared expertise in fast breeder reactor technology (PFBR).
• CGN Power: CGN is one of China's largest state-owned nuclear power operators with a rapidly expanding fleet including PWR (Hualong One) and experimental reactors. Comparable to NPCIL as a major emerging-market nuclear utility pursuing aggressive capacity expansion, indigenous reactor technology, and SMR development.
• Bruce Power: Bruce Power operates the world's largest operating nuclear facility (8 CANDU/PHWR reactors) at Bruce Nuclear Generating Station in Ontario, Canada. Directly comparable to NPCIL's fleet operations given shared CANDU/PHWR technology and similar major refurbishment/life-extension programmes.
• ČEZ Group: ČEZ operates the Dukovany and Temelín nuclear power plants in the Czech Republic (4 reactors, ~4 GW capacity). Comparable to NPCIL as a state-influenced European nuclear utility with mixed Russian (VVER) and Western (PWR) reactor technology and plans for fleet expansion including new build projects.

Broad incumbents

• Électricité de France (EDF): EDF operates the world's second-largest nuclear fleet (56 reactors) and is currently in technology partnership discussions with NPCIL for the proposed Jaitapur plant using EPR technology. As a global nuclear incumbent, EDF represents both a potential technology partner and a comparable state-affiliated nuclear utility pursuing fleet life extensions.
• Vattenfall: Vattenfall operates nuclear reactors in Sweden and is exploring new build projects for clean baseload power. Comparable to NPCIL as a state-affiliated European energy company pursuing nuclear fleet expansion for clean energy targets and grid stability, though operating in a mature European market.

Emerging players

• NTPC Limited: NTPC is India's largest power producer and NPCIL's joint venture partner through ASHVINI for the Mahi Banswara 4x700 MW PHWR project. Comparable as a domestic partner expanding into nuclear from a thermal/renewables base, representing the new model of multi-utility nuclear development in India.

Regional players

• Teollisuuden Voima Oy (TVO): TVO operates Finland's Olkiluoto nuclear power plant (including the EPR Olkiluoto-3 commissioned 2023) and holds a stake in Fennovoima's Hanhikivi project. Comparable to NPCIL as a national nuclear operator pursuing new build with mixed European-Russian technology partnerships and government support.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

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M&A

Investments

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Frequently asked questions about Nuclear Power Corporation of India