Thorium-based fuel bundles are used in existing PHWR reactors (e.g., Indian 220 MWe PHWR, Indian 540 MWe PHWR, Indian 700 MWe PHWR, CANDU 300/600/900) in place of conventional uranium-based fuel bundles, with little or no modifications to the reactor. The fuel composition of such bundles is 60+ wt % thorium, with the balance of fuel provided by lowenriched uranium (LEU), which has been enriched to 13-19.95% 235U. According to various embodiments, the use of such thorium-based fuel bundles provides (1) 100% of the nominal power over the entire life cycle of the core, (2) high burnup, and (3) non-proliferative spent fuel bundles having a total isotopic uranium concentration of less than 12 wt%. Reprocessing of spent fuel bundles is also avoided.