top of page

India is betting big on nuclear energy. Here’s why.

InduQin

India’s need for reliable and clean sources of energy has made the government focus on nuclear energy.



India is betting big on nuclear in its energy mix in the medium to long term, with the country planning to take its nuclear capacity from 8180MW currently to 22,800MW by FY32.


The reasoning is simple enough. India needs more power to hypercharge itself at a time defined by a unique combination of three forces – a rising economy, energy transition and climate change. At that intersection is the conversation around nuclear power, which is viewed as a source of clean power.


What is the role of nuclear energy in the India of today? ET explains.


How is the government accelerating the addition of nuclear capacity?


The government has given administrative approval and financial sanction to set up 10 indigenous 700MW pressurized heavy water reactors (PHWRs) in fleet mode. It has also approved creating the Indian Nuclear Insurance Pool (INIP) for implementation of Civil Liability for Nuclear Damage (CLND) Act, an Amendment of the Atomic Energy Act to enable joint ventures of public sector companies to set up nuclear power projects and entering into agreements with foreign countries for nuclear power co-operation, including supply of fuel.

 

Why is there a renewed focus on nuclear power?


India has committed to having 50% of its electric power installed capacity from non-fossil fuel-based energy resources by 2030. It has also set its net zero emissions target for 2070. The demand for power is also set to rise with growth in the economy and change in weather patterns.Nuclear power is seen as a clean source of fuel which helps balance the grid. According to the government, expansion of nuclear power capacity will help in the country’s energy transition for meeting the net zero economy goal.


What are the advantages of having nuclear power in India’s energy mix?


Apart from being a clean source of fuel, nuclear power also offers non-stop baseload power. It does not require storage, unlike renewable energy, which is intermittent in nature. That means that nuclear energy can play a vital role in keeping power grids stable and in providing energy security.


What are the arguments against nuclear power?


Nuclear power remains a high-risk source. Fuel waste, uncontrolled nuclear reaction in a reactor, and limited uranium reserves are some key concerns.According to the IEA, mobilising investment for building nuclear power plants is also a major barrier. Plans to build new nuclear plants face concerns about competitiveness with other power generation technologies. This is especially critical since the nature and the magnitude of nuclear projects require billions of dollars in upfront investment.


What is the trend around the world?


The focus on nuclear energy is global. In advanced economies, nuclear has long been the largest source of low-carbon electricity, providing 18% of supply in 2018.The International Energy Agency (IEA) projects the global nuclear installed power capacity to rise to 871GW by 2050 from 413GW in 2021, more than doubling the capacity in its Net Zero Emissions 2050 scenario.

 


https://economictimes.indiatimes.com/prime/prime-decoder/india-is-betting-big-on-nuclear-energy-heres-why-/primearticleshow/109731087.cms

43 views0 comments

Recent Posts

See All

Comments


bottom of page