India’s biggest power company state-run NTPC (formerly the National Thermal Power Corporation plans to invest $62bn over the next two decades to construct 30 GWe of nuclear generation capacity, Reuters reported citing sources with direct knowledge of the matter. This is here times the 10 GWe previously targeted.
This comes after the federal budget revealed plans to have 100 GWe of nuclear power generation capacity installed by 2047, “positioning nuclear energy as a major pillar in India’s energy mix”.
Currently, India has 8 GWe of operating nuclear capacity, operated by state-owned Nuclear Power Corporation of India Limited (NPCIL). The budget also announced measures to promote private sector participation, and accelerate the deployment of advanced nuclear technologies such as Small Modular Reactors (SMRs).
The Atomic Energy Act of 1962 currently bars private investments in nuclear power plants, while stringent liabilities under the Civil Liability for Nuclear Damage Act 2010, deter foreign suppliers such as EDF, GE and Westinghouse from signing deals. Announcing the budget, Finance Minister Nirmala Sitharaman proposed amending the two Acts, and promised INR200bn ($2.30bn) for the research and development of SMRs, at least five of which will be operational by 2033.
In January, NTPC signed a Supplementary Joint Venture Agreement-2 (SJVA-2) with NPCIL. This builds upon an existing Joint Venture Agreement signed in 2010, and represents a strategic restructuring of their joint venture company, Anushakti Vidhyut Nigam Limited (ASHVINI). The agreement also facilitates the transfer of the Mahi Banswara Rajasthan Atomic Power Project (MBRAPP), comprising four 700 MWe units, from NPCIL to ASHVINI with the aim of strengthening the operational scope and resource base of the joint venture.
NPTC also set up NTPC Parmanu Urja Nigam Limited NPUNL) as a wholly-owned subsidiary “to carry on the business of planning and executing an integrated programme for harnessing and developing nuclear energy for generating electricity or other purposes on a commercial basis” as well as building, owning, operating and managing nuclear plants, promoting research and development, and selecting suitable sites for nuclear power stations and ancillary facilities.
According to Reuters’ sources NTPC is also seeking early approvals for land in eight states for detailed studies in 27 locations. The states include Gujarat in the west, Uttar Pradesh in the north, central India’s Madhya Pradesh, and Andhra Pradesh and Tamil Nadu in the south. The sources said the locations could be enough to set up capacity of at least 50 GWe.
Reuters also cited a company executive as saying NTPC was in talks about the construction of SMRs with foreign firms, including from Russia and the US. The sources said potential partners include France’s EDF, and General Electric and US Holtec.
