India Aims for 100 GW Nuclear Power Capacity by 2047 with Rs 20,000 Crore Allocation
Team Finance Saathi
01/Feb/2025
What's covered under the Article:
- India targets 100 GW nuclear energy capacity by 2047, with a focus on Small Modular Reactors.
- Rs 20,000 crore funding allocated for research and development of SMRs.
- Legislative changes to facilitate private sector participation in nuclear energy growth.
In a major step towards clean energy and sustainable growth, the Indian government has launched an ambitious Nuclear Energy Mission aimed at achieving a 100 GW nuclear power capacity by 2047. This initiative is set to play a pivotal role in meeting India's growing energy demand while ensuring a low-carbon future.
The target of 100 GW nuclear power is a significant leap forward for India's energy sector, marking the country's intent to become a global leader in nuclear energy. To achieve this goal, the government is focusing on the development of Small Modular Reactors (SMRs), which are expected to be a game-changer in the world of nuclear power generation.
As part of this mission, the government has allocated a substantial Rs 20,000 crore specifically for the research and development of SMRs. This funding will be crucial in developing and deploying indigenous SMRs, with plans to launch five SMRs by 2033. These reactors are designed to be more compact, safer, and cost-effective compared to traditional large-scale nuclear plants, making them an attractive option for expanding nuclear energy capacity in India.
The government's focus on Small Modular Reactors aligns with global trends towards advanced nuclear technologies, as SMRs offer significant advantages such as lower capital costs, reduced construction timelines, and improved safety features. This initiative is expected to help India transition to clean energy sources while addressing the country's energy security needs.
In addition to the technological advancements, the Indian government is also introducing legislative changes to support the growth of the nuclear energy sector. These changes include modifications to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act. The reforms are designed to facilitate greater private sector involvement in the nuclear energy industry, allowing for more investment and innovation in this sector.
These changes are expected to encourage private players to partner with the government and contribute to the development of nuclear infrastructure, especially in areas such as reactor design, construction, and operation. The inclusion of the private sector is essential for scaling up nuclear energy production and accelerating the deployment of new technologies like SMRs.
India’s nuclear energy strategy is also aligned with its broader energy transition goals. As the country seeks to reduce its dependence on fossil fuels and increase the share of renewable energy sources in its energy mix, nuclear power will play a critical role in achieving these targets. With a population of over 1.4 billion and a rapidly growing economy, the demand for energy in India is expected to rise significantly in the coming decades.
The integration of nuclear energy into India’s energy grid will not only help meet the demand for power but will also contribute to reducing greenhouse gas emissions and combating climate change. Nuclear power is one of the cleanest energy sources, and by focusing on SMRs, India is positioning itself at the forefront of the global nuclear revolution.
India’s energy future also looks promising in terms of its ability to achieve energy independence. The development of indigenous nuclear technologies will ensure that India is not reliant on external sources of uranium or foreign technology, making the country more self-sufficient in meeting its energy needs.
The goal of achieving 100 GW nuclear capacity by 2047 is not just an ambitious target, but also a crucial step in ensuring that India meets its future energy demands while contributing to the global effort to reduce carbon emissions and tackle climate change. As part of this transition, India is expected to continue expanding its renewable energy capacity, with nuclear power serving as a complementary energy source to solar and wind energy.
With the introduction of Small Modular Reactors, India is also opening new opportunities for international collaboration in the field of nuclear energy. The country’s nuclear sector is poised to attract more foreign investments and partnerships, leading to technological exchange and innovation that will benefit both India and the global community.
As India moves forward with its 100 GW nuclear energy goal, it is setting a clear path towards a sustainable, clean, and self-reliant energy future. This ambitious initiative is expected to pave the way for the country’s emergence as a global leader in nuclear energy, showcasing the potential of advanced nuclear technologies like Small Modular Reactors.
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