India’s largest power producer is looking to develop another massive nuclear project just weeks after it announced its entry into the region, a sign that Prime Minister Narendra Modi’s expansion into nuclear power is gaining momentum.
A venture between NTPC Ltd, which relies on coal to supply energy to the world’s fastest growing population, and India’s monopoly nuclear developer with the government to develop two 700-MW reactors in the central state of Madhya Pradesh Advanced conversations. For those familiar with the matter, those asked to be identified as discussions are not public.
This comes after an announcement by NTPC earlier this month that it wanted to make its nuclear power debut with two reactors in Gorakhpur in the northern state of Haryana. According to the International Atomic Energy Agency, the country is currently building six gigawatts of nuclear capacity, the most after China, whose quantity is under construction.
Narendra Modi Expanding the share of electricity from clean sources aims to more than triple India’s nuclear fleet over the next decade, as the nation seeks to reduce carbon emissions to zero by 2070. The country currently produces about 70% of its electricity using coal and about 3. % from nuclear, and has opened its nuclear industry to state-controlled firms beyond Nuclear Power Corp of India Ltd. to accelerate the adoption of nuclear power.
NTPC, Nuclear Power Corporation and Department of Atomic Energy did not immediately respond to emailed requests for comment.
“From a carbon footprint perspective, nuclear baseload is the best form of power and is an important part of India’s journey to net zero,” said Debashish Mishra, Mumbai-based partner, Deloitte Touche Tohmatsu. “Domestic technology has been tried and tested and more and more government companies should consider investing in these projects.”
India emerged from nuclear exile in 2008 following a deal with the US that allowed it to access foreign technology and raw materials for its civilian program for the first time in three decades. But resistance to the country’s nuclear liability law – which holds equipment suppliers liable for accidents – as well as anti-nuclear concerns following the 2011 Fukushima disaster in Japan have stymied expansion plans.
The nation has 6.8 gigawatts of nuclear power, which is barely 1.7% of its total generation fleet. New Delhi-based NTPC currently runs 92% of its capacity on fossil fuels and plans to reduce this to almost half by 2032.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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