India Eyes Private Sector for Nuclear Power Leap

India's Bhabha Atomic Research Centre (Barc) is actively engaging private sector giants for the commercial-scale development of its 300MW Bharat Small Modular Reactor (BSMR). Companies such as NTPC, the Adani Group, Reliance Industries, and Larsen & Toubro are in preliminary discussions to form a special purpose vehicle (SPV) for this ambitious nuclear project. This move signifies a potential early test of private participation in expanding India's nuclear energy capabilities.

If the BSMR proves viable, it could contribute substantially to India's goal of achieving 100 GW of nuclear capacity by 2047. Barc is preparing to issue a request for proposal under the government's ₹20,000-crore Nuclear Energy Mission. The initiative aligns with India's broader strategy to diversify energy sources, especially amid geopolitical uncertainties.

The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (Shanti) Act, 2025, has paved the way for private entities in nuclear power generation, offering a streamlined licensing process. Globally, SMRs are gaining traction for their modular design, enabling factory production and faster construction, with GE Vernova and Holtec Industries being notable designers of similar 300MW reactors.

Despite the technological promise, the commercial viability of SMRs remains a subject of expert discussion due to high initial costs. However, the Shanti Act and the inclusion of private players are seen as crucial enablers for attracting investment. Experts emphasize the need for simpler regulations and potential collaboration with global companies to fast-track domestic manufacturing and ensure safety.