# Thorium’s missing market

> India can boost thorium adoption by improving lab access, enforcing procurement conditions, and ensuring supplier obligations.
- Title: Thorium’s missing market · Financialexpress | Shortify
- Summary: India can boost thorium adoption by improving lab access, enforcing procurement conditions, and ensuring supplier obligations.
- Keywords: thorium, nuclear power, lab access, procurement conditions, supplier obligations, india, nuclear energy, gains, costs, capacity factor, Financialexpress
- Source: Financialexpress — https://financialexpress.com/opinion/thoriums-missing-market/4381007
- Author: FE Bureau
- Published: 2026-11-10T15:39:13+00:00
- Read time: 1 min
- Topics: thorium, nuclear power, lab access, procurement conditions, supplier obligations, india, nuclear energy, gains, costs, capacity factor, business, money
## Thorium’s history presents an arresting paradox
Thorium energy has shown technical promise for decades but faces commercial and financial challenges.
## Shippingport reactor generated 2.13 billion kWh
America’s Shippingport reactor generated approximately 2.13 billion gross kilowatt-hours through its thorium-uranium-233 breeder core.
## Oak Ridge’s Molten-Salt Reactor Experiment
Oak Ridge’s Molten-Salt Reactor Experiment operated between 1965 and 1969, reaching about 7.4 megawatts thermal.
## Uranium’s self-reinforcing advantage
Uranium suppliers accumulated operating experience and familiar regulatory procedures made each additional investment easier to justify.
## Resource economics strengthen uranium’s position
The Nuclear Energy Agency identified 7.93 million tonnes of recoverable uranium resources as of January 2023, across recovery-cost categories extending to $260 per kilogram.
## Thorium’s financial challenges
Assume investments of Rs 15 crore per Mw, annualised over 60 operating years at an 85% capacity factor.
## Capital cost impact
Raising the real cost of capital from 5% to 12% increases capital recovery from Rs 1.06 to Rs 2.42 per kWh.
## Capacity factor effect
Lowering the assumed capacity factor from 85% to 70% raises that capital component from Rs 1.63 to Rs 1.98 per kWh.
## Thorium development adds uncertainty
The International Energy Agency observes that lengthy permitting process and construction can postpone a large reactor’s breakeven point until 20-30 years after project initiation.
## India could adapt GAIN voucher model
India could adapt the US Gateway for Accelerated Innovation in Nuclear voucher model to fund access to specialised laboratory services.
## Utilities should shape projects
The Nuclear Power Corporation of India could invite developers to propose limited trials against operator-defined requirements and conventional-fuel benchmarks.
## Key takeaway

India can improve thorium’s commercial viability through better lab access, procurement rules, and supplier commitments.