This is the first time the government is pursuing private investment in nuclear power, a non-carbon-emitting energy source that contributes less than 2% of India's total electricity generation. The funding would help India achieve its target of having 50% of its installed electric generation capacity use non-fossil fuels by 2030, up from 42% now.
The government is in talks with at least five firms, including Reliance Industries, Tata Power, Adani Power and Vedanta, to invest around 44,000 crore ($5.30 billion) each, the sources, who are directly involved in the matter, said last week.
The department of atomic energy (DAE) and Nuclear Power Corp of India (NPCIL) have held multiple rounds of discussions with the companies in the past year on the investment plan, the sources said.
DAE, NPCIL, Tata Power, Reliance Industries, Adani Power and Vedanta did not respond to queries sent by Reuters.
This story is from the February 21, 2024 edition of Financial Express Mumbai.
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This story is from the February 21, 2024 edition of Financial Express Mumbai.
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