• UGI USER
  • Feb 21, 2024
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‘INDIA TO SEEK $26 BN PRIVATE INVESTMENT IN NUCLEAR POWER SECTOR’

Why in the news?

  • India aims to attract private investment of approximately $26 billion in its nuclear energy sector.
  • The move seeks to bolster electricity production from non-carbon emitting sources, addressing environmental concerns.

Key focus on Investment Targets and Objectives:

  • Increase non-fossil fuel-based electricity to 50% by 2030.
  • Add 11,000 MW of new nuclear capacity by 2040.
  • Reliance Industries, Tata Power, among others, to invest $5.3 billion each.
  • NPCIL operates projects for a fee, allowing firms revenue from electricity sales.
source: gkinsights
Current Status of Nuclear Energy in India:

●   Nuclear Energy Status:

  • Contributes 3% to India’s electricity.
  • Operates 22 reactors across 7 plants, generating 6780 MW.
  • KAPP-3 connected in January 2021.

●   Recent Developments:

  • Joint ventures with PSUs to strengthen nuclear capabilities.
  • Expansion plans to new regions, like Haryana’s Gorakhpur.

●   Indigenous Move:

o   Constructing “Bhavni,” India’s first thorium-based nuclear plant in Kalpakkam, Tamil Nadu.