India Considers Allowing 49% Foreign Stake in Nuclear Power Plants
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| News Summary | <brief>India is considering allowing foreign companies to hold up to 49% stake in its nuclear power plants, marking a significant policy shift. This aims to boost clean energy, reduce coal dependence, and meet carbon emission goals. Amendments to key nuclear legislations are proposed to facilitate this, targeting completion by the monsoon session of Parliament in July 2025. This move aligns with India's goal to expand nuclear capacity from 8 GW to 100 GW by 2047.</brief> |
| Policy Proposal | Foreign ownership up to 49% in nuclear power projects, subject to government approval. |
| Legal Amendments | Amendments proposed to the Civil Liability for Nuclear Damage Act, 2010 and the Atomic Energy Act, 1960 to relax liability laws and allow private and foreign participation in building and operating nuclear plants and mining atomic fuel. |
| Parliament Timeline | Amendments expected to be placed before the Union Cabinet soon, with the aim to pass them in the Monsoon Session (July 2025). |
| Current Nuclear Capacity | India's current nuclear power generation is 8 GW, accounting for 2% of total installed electricity capacity. |
| Key Agreements | 2008 Civil Nuclear Agreement with the US opened possibilities for deals, but foreign investment stalled due to liability risks. |
| Energy Transition | Expansion of nuclear energy is crucial to transition from coal and meet night-time energy demands, as solar and wind alone are insufficient. |
| Capacity Goals | India aims to expand nuclear capacity twelvefold, from 8 GW to 100 GW by 2047. |
| Foreign Interest | Companies like Westinghouse Electric, GE-Hitachi, EDF, and Rosatom have shown interest in participating as technology providers and contractors. |
| Domestic Interest | Domestic giants such as Reliance Industries, Tata Power, Adani Power, and Vedanta are reportedly looking to invest $26 billion into the nuclear energy sector. |
| Tariff Negotiations | Opening up the sector might spur tariff negotiations with the US on nuclear power, though its inclusion in formal trade deals remains unclear. |