Significant acceleration imperative for India's 100 GW nuclear target

The country has around 20 years to increase its nuclear capacity from 8 GW.

India was told to accelerate its efforts as it aims to expand its nuclear energy capacity to 100 gigawatts (GW) from an installed base of 8 GW.

The country plans to reach this target by 2047, but it only has 7 GW of the 36 GW planned capacity currently under construction, according to a new report by SBICAPS.

“Reducing construction timelines from the current ~10 years to the global best of ~6 years, thereby mitigating historical cost overruns exceeding 2x are crucial for capital cost optimisation,” the report read.

“Attracting global investment through a 49% FDI allowance will augment capital inflows,” it added.

SBICAPS said a comprehensive systemic reform encompassing a single-window clearance mechanism, streamlined land acquisition norms, a reduced exclusion zone radius around plants, and enhanced autonomy for the AERB is also urgent. 

Given limited uranium reserves, SBICAPS said there is a need to diversify fuel sources via international agreements and accelerating the transition to Stages 2 and 3 of India’s nuclear programme.

India has initiated the Nuclear Energy Mission, allocating INR 200b towards research and development and the deployment of at least five Bharat Small Modular Reactors as announced in the Union Budget.

“Addressing existing policy gaps is crucial to ensure that the private sector leads the development of 50% of the targeted 100 GW nuclear capacity by 2047,” SBICAPS said.

“Beyond project development, substantial opportunities exist for ecosystem participants, particularly reactor manufacturers, turbine and generator suppliers, precision control and equipment providers, and cooling system specialists,” it added.