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India Powers Up: Nuclear Energy Gets Private Boost
1 Dec
Summary
- Government plans amendments to Atomic Energy and Civil Liability Acts.
- India targets 100 GW nuclear power capacity by 2047.
- A Rs 20,000 crore mission aims to develop five small modular reactors by 2033.
The Indian government is making significant strides to bolster its nuclear energy sector, aiming to diversify the nation's energy mix. Plans are underway to amend the Atomic Energy Act and the Civil Liability for Nuclear Damage Act, signaling a strategic move to attract private sector investment into nuclear power projects.
This legislative push supports an ambitious national target of achieving 100 GW of nuclear power capacity by the year 2047. To further this goal, a dedicated Nuclear Energy Mission has been established with an allocation of Rs 20,000 crore, focusing on the development of at least five indigenously designed Small Modular Reactors by 2033 and promoting cutting-edge nuclear technologies.
The proposed amendments are expected to overcome existing barriers that currently limit private and state government participation in nuclear projects. By streamlining processes and encouraging private capital, these measures are vital for accelerating the development and clearance of nuclear power projects, thereby propelling India towards its energy independence objectives.
