India Plans Incentives for Private Investment in Nuclear Energy
Sops for private investors in nuclear energy on cards
Image: The Economic Times
The Indian government is exploring measures to boost private investment in nuclear energy, including assured power purchase agreements and financial support through the SHANTI Act and the RDI scheme. The aim is to increase nuclear capacity from 8.78 GW to 100 GW by 2047.
- 01The government is considering assured power purchase agreements to attract private investments in nuclear energy.
- 02Consultations with technology developers and investors will be initiated soon, according to Abhay Karandikar from Niti Aayog.
- 03Financial support may be provided through the ₹1 lakh crore Research Development and Innovation (RDI) scheme to encourage private sector participation.
- 04The SHANTI Act, 2025 will allow private companies to engage in various nuclear activities, excluding sensitive operations.
- 05India aims to increase its nuclear capacity from 8.78 GW to 100 GW by 2047, with a target of operationalizing five small modular reactors by 2033.
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The Indian government is actively seeking to attract private investments in the nuclear energy sector as part of its green transition strategy. Abhay Karandikar, a member of Niti Aayog, announced plans to initiate consultations with technology developers and investors, focusing on assured power purchase agreements and potential financial support. The government is preparing to implement rules under the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, 2025, which will allow private companies to engage in various nuclear activities, though sensitive operations will remain restricted. Financial backing could be available through the ₹1 lakh crore Research Development and Innovation (RDI) scheme, which aims to accelerate transformative technologies. India’s current nuclear capacity of 8.78 GW is projected to rise to 22.38 GW by 2031-32, with a long-term goal of achieving 100 GW by 2047, alongside the operationalization of at least five indigenously designed small modular reactors by 2033.
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The government's initiatives are expected to enhance private sector involvement in nuclear energy, potentially leading to job creation and technological advancements in the sector.
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