100 GW Nuclear Energy Goal Challenging But Realistic: Jitendra Singh

(MENAFN- KNN India) New Delhi, Feb 7 (KNN) Science and technology Minister Jitendra Singh expressed confidence in India's ambitious target of achieving 100 gigawatts of nuclear power capacity by 2047, describing it as "challenging but realistic."

Singh emphasised that private sector participation would catalyse growth in nuclear energy, drawing parallels to the transformative impact private players have had on India's space economy, speaking to The Indian Express.

The government's commitment to nuclear expansion was recently highlighted in the Union Budget, where Finance Minister Nirmala Sitharaman announced plans to amend the Atomic Energy Act of 1962 and the Civil Liability for Nuclear Damage Act.

These legislative changes aim to facilitate private investment in nuclear power generation, marking a significant shift from the traditional model where nuclear facilities were exclusively operated by state-owned entities like Nuclear Power Corporation of India Ltd (NPCIL) and Bharatiya Nabhikiya Vidyut Nigam.

India's current nuclear power capacity stands at 7,480 MW, with plans to reach 22,800 MW by 2031-32 through ten plants currently under construction. Achieving the 2047 target would require a five-fold increase from the 2031-32 projection.

Singh acknowledged the scale of this ambition but maintained its feasibility, citing the rapid growth of India's space economy, which is currently valued at USD 8.4 billion and projected to reach USD 44 billion by 2033.

The government has also announced a Rs 20,000 crore research and development mission focused on small modular reactors (SMRs).
These next-generation nuclear reactors offer advantages in portability, mass production capability, cost-effectiveness, and safety compared to traditional reactors.

India aims to deploy at least five indigenously developed SMRs by 2033, while continuing to develop conventional nuclear reactors in parallel.

Recent policy changes have already begun to broaden participation in the nuclear sector, allowing public sector units like National Thermal Power Corporation to form joint ventures with NPCIL for nuclear power plant operations.

Singh noted that while the nuclear energy sector presents unique considerations, the entry of private players is expected to accelerate growth significantly, similar to developments in the space sector.

(KNN Bureau)

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