India's Nuclear Power Corp extends deadline for small reactor proposals as Industrial interest grows
June 25 (Reuters) - State-run Nuclear Power Corporation of India Ltd (NPCIL) has extended the deadline for proposals from industrial users to set up 220 megawatt electric (MWe) small nuclear reactors, amid growing interest from companies seeking cleaner energy sources.
NPCIL has extended the deadline for submitting proposals for setting up Bharat Small Reactors (BSR) in new or existing industries to Sept. 30, 2025, from June 30, the company said in a notice published on Wednesday.
The corporation will now open proposals on a rolling basis.
NPCIL said several industrial houses have already signed non-disclosure agreements and begun joint work on the BSR model, while others have requested more time to prepare submissions.
The move comes as India looks to decarbonize industrial power and meet its net-zero targets, and as part of this push, is overhauling its nuclear liability law to attract foreign and private investment.
The country aims to expand nuclear capacity to at least 100 gigawatts (GW) by 2047, up from about 9 GW currently.
Under the proposal announced in December, NPCIL will operate the plant, while industries will use the power generated and cover the capital and operating expenses.
India currently operates 25 nuclear reactors, contributing about 3% of its electricity.
NPCIL is the sole operator of nuclear power plants in the country, but the government has proposed allowing private Indian firms to build nuclear plants and permitting foreign companies to hold up to a 49% stake.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
3 hours ago
- The Guardian
ECB joins forces with BCCI to thwart new Saudi Arabia-backed T20 competition
The England and Wales Cricket Board has joined forces with the Board of Control for Cricket in India to try to thwart a new global Twenty20 league backed by Saudi Arabia. Under plans that emerged in Australia this year, Saudi's SRJ Sports Investments has pledged to inject £400m to set up the new league, which would have eight teams playing four tournaments in different locations each year in a set-up that has been compared to tennis's grand slams. Cricket Australia is understood to have expressed interest in partnering with the new league and is willing to host one of the proposed tournaments. CA is yet to benefit from a major injection of private capital, with the Big Bash League franchises owned by the governing body and the states. The ECB in contrast is about to bank £520m from the sale of 49% of the eight Hundred franchises, while Cricket South Africa raised more than £100m by selling franchises in its SA20 competition to Indian Premier League owners three years ago. During discussions at the World Test Championship final at Lord's this month, the ECB and BCCI agreed to unite in opposing the new league. The boards agreed they will not issue No Objection Certificates to their players to sign up for the new competition, as well as lobbying the International Cricket Council to withhold their endorsement. The positive talks are also a boost for the ECB, which was concerned about alienating India after declining to release Jos Buttler, Jacob Bethell and Will Jacks for the rescheduled IPL playoffs last month due to a clash with England's white-ball series against West Indies. The absence of Indian and English players would be a major blow to the competition's hopes of getting off the ground, particularly given the congested nature of the global cricket calendar and the competition for players. There are more than 20 short-format leagues played over 10 or 20 overs taking place in men's cricket this year, plus the Hundred. The ICC has yet to come to a formal position on the new league, but history suggests it is unlikely to go against the wishes of India. The recently elected ICC chair, Jay Shah, was previously secretary of the BCCI and is the son of India's home affairs minister, Amit Shah. Sign up to The Spin Subscribe to our cricket newsletter for our writers' thoughts on the biggest stories and a review of the week's action after newsletter promotion To complicate matters, however, the ICC has also developed close ties with Saudi Arabia in recent years. After an initial 18-month deal, the ICC has signed a four-year deal with the state-owned oil company Aramco as its global partner worth £70m a year. A more diplomatic option for the ICC would be to hinder the tournament's development after providing its endorsement, by declining to alter their regulations to help it flourish. Under their existing rules all new T20 leagues have a limit of four overseas players from full member nations, which would create challenges for a Saudi Arabian league given the country's limited domestic player base. The IPL, Big Bash and Hundred have been successful as the teams have attracted overseas players to supplement the best domestic talent. A new competition featuring seven players from Saudi Arabia or other ICC associate member nations outside the 12 Test playing countries would be far less attractive to sponsors and broadcasters.
Reuters
5 hours ago
- Reuters
IPL's Royals owner accuses former co-owner of blackmail in UK court
LONDON, June 25 (Reuters) - Indian Premier League cricket franchise Rajasthan Royals' majority owner on Wednesday accused his former co-owner of trying to blackmail him by alleging he was defrauded out of his minority stake in the club. London-based venture capitalist Manoj Badale and his company Emerging Media Ventures are suing businessman Raj Kundra at London's High Court for allegedly breaching a 2019 confidential settlement agreement. The case centres on Kundra's former shares in Rajasthan Royals, winner of 2008's inaugural IPL which is now cricket's richest tournament with a brand value of $12 billion. Badale's lawyer Adam Speker said Kundra, who is married to Bollywood star Shilpa Shetty, had threatened to report serious allegations to Indian authorities in a "blackmail attempt". Kundra, however, says he has been told information about the claimants and his lawyer William McCormick that, if that is not true, "in due course it will be exposed". Kundra had to forfeit his 11.7% stake after being found guilty in 2015 of betting on IPL games in a scandal which led to the Rajasthan Royals being suspended for two years, Speker said. He added in court filings that Kundra emailed Badale "out of the blue" last month, alleging he had been "misled and defrauded of the rightful value of my 11.7% stake". The email to Badale said Kundra had filed a complaint with Indian authorities and threatened to make a report to India's Cricket Board (BCCI). Kundra added, however, that he was willing to discuss a deal involving "the restoration of my original equity or compensation reflecting the true and current valuation of the Rajasthan Royals franchise". Speker said Kundra also messaged disgraced IPL founder Lalit Modi this month, saying Badale "did not realise cheating me of the true value would cost him dearly". Badale and his Emerging Media Ventures, which holds a 65% stake in Rajasthan Royals, obtained an interim injunction against Kundra on May 30, preventing Kundra from breaching the settlement agreement by making disparaging statements. Kundra's lawyer McCormick said Kundra accepted the injunction should continue until a full trial of the lawsuit. "It is not an admission that anything improper has been done or is being threatened," McCormick said.
Reuters
5 hours ago
- Reuters
India plans steps to counter rising copper supply risks
NEW DELHI, June 25 (Reuters) - India has held internal talks about its growing vulnerability to the tightening global copper market and plans to discuss ways to lock in supply from resource-rich countries during ongoing trade negotiations, according to two government sources and a draft government policy document. New Delhi is also considering measures to help boost domestic refined copper output, including through foreign investment, the sources and the document said. India meets over 90% of its copper concentrate needs through imports, and its dependency is expected to rise to 97% by 2047, said the document reviewed by Reuters. It produces an estimated 573,000 metric tons of refined copper annually against demand of around 1.8 million tons, relying on imports to bridge the gap. India could approach global majors such as Chile's state-owned miner Codelco, the world's largest copper producer, and Australian miner BHP ( opens new tab to set up domestic copper smelters and refineries, said the sources and the document. Codelco declined to comment, while BHP and the federal Ministry of Mines did not respond to Reuters' emails seeking comments. Indian state firms could invest in overseas mining projects run by Codelco and BHP in exchange for participating in the development of copper infrastructure in India, said the sources, who asked not to be named because the plans were not public. India's copper imports have jumped since the 2018 closure of Vedanta's Sterlite Copper smelter. The country imported 1.2 million metric tons of copper in the fiscal year to March 2025, up 4% from a year earlier. Explaining the strategies likely to be adopted in bilateral trade pacts, the document stated that India is seeking to include a detailed "copper chapter" in its ongoing free trade negotiations with Chile and Peru aimed at securing copper concentrate supplies. While tightening copper supplies from key exporters such as Indonesia have limited India's sourcing options, Chile and Peru already have long-term commitments with major global buyers like China, further narrowing India's import choices, it said. The government also wants the state-run Khanij Bidesh India Ltd to secure supplies of strategic minerals from overseas and explore copper assets in Chile, Peru, Australia, Mongolia, and other countries, the document said. India could also become more vulnerable to supply chain disruptions as leading suppliers of mineral resources resort to "resource nationalism", it said. China placed export restrictions on rare earth elements in April, squeezing supply of minerals used in weapons, electronics and a range of consumer goods. This trend underscores "an urgency for foreign asset acquisition", the document said.
