At a cost of $62 billion, the Indian state power company NTPC plans to construct 30 gigawatts of nuclear generating capacity over the next 20 years, which is three times more than anticipated. In a nation where there is strong local opposition to such projects, the nation’s largest power company, which primarily operates coal-fired plants, is looking for land for its ambitious proposal.
After the government this month announced plans to open up the nuclear sector to private and foreign investment, NTPC tripled its initial objective of 10 GW of nuclear capacity.
India aims to have at least 100 GW of nuclear power by 2047 and has promised to installing 500 GW of non-fossil fuel electricity generation capacity by 2030.
The nation’s almost 8 GW capacity is now operated exclusively by the state-run Nuclear Power Corp of India, with plans to expand to 20 GW by 2032.
In Madhya Pradesh and Rajasthan, NTPC is currently constructing two nuclear-powered 2.6 GW reactors.
The sources added that after public opposition and acquisition concerns have hampered the nation’s aspirations for atomic energy, it is currently looking for early approvals for land in eight states for in-depth research in 27 places.
Nuclear power has piqued the interest of private Indian utilities and conglomerates including Tata Power, Vedanta, Reliance Industries, and Adani Power. It is anticipated that NTPC Parmanu Urja Nigam, a recently established division of NTPC, will participate in the industry, possibly through partnerships.
Private investments in nuclear power plants are currently prohibited under the Atomic Energy Act of 1962, and international fuel and equipment suppliers like GE and Westinghouse are discouraged from entering into agreements due to the strict obligations imposed by the Civil Liability for Nuclear Damage Act of 2010.