India Focuses On Developing Nuclear Energy, FM Sitharaman Says 10 GW Nuclear Energy Plants To Be Build By 2047

Finance Minister Nirmala Sitharaman on Saturday, in her budget speech, announced that India will develop 10 GW nuclear energy plants by 2047. The move will increase India's nuclear power capacity from the current 8,180 MW to 22,480 MW by 2031-32 and eventually 100 GW by 2047.

These targets are focused on reducing the emission intensity of its GDP by 45 percent by 2030 compared to 2005 levels and ensuring that about 50 percent of its cumulative electric power capacity comes from non-fossil fuel sources by the same timeframe.

The need for legislative and policy reforms is acknowledged as a critical step in repurposing old thermal plant sites and mined-out lands for nuclear facilities. Amendments proposed to the Coal Bearing Areas (Acquisition and Development) Bill, 2024, by the Ministry of Coal, aim to facilitate the conversion of these sites into grounds for nuclear power generation. This is part of a broader strategy to rejuvenate aging and de-coaled thermal power plants by giving them a new lease on life as nuclear power sites.

Opening Doors for Private Sector Involvement

Currently, the nuclear energy sector in India is predominantly controlled by state-owned entities, with NPCIL being the exclusive operator of nuclear power plants. Even though the Atomic Energy Act was amended in 2015 to allow private companies to supply equipment, ownership of reactors remains with the public sector. The government is now considering further liberalization of the nuclear energy sector, potentially amending the Atomic Energy Act and revising the Civil Liability for Nuclear Damage Act.