Latest news with #CivilLiabilityforNuclearDamageActof2010
Hindustan Times
19-05-2025
- Business
- Hindustan Times
Govt considering amendments to Atomic Energy Act, nuclear liability law
New Delhi, Government is considering amendments to the laws governing the nuclear power domain, including the sectoral regulator, to allow participation of private sector as India eyes to produce 100 GW atomic energy by 2047. Government sources said amendments were being considered to the Atomic Energy Act to allow private sector participation and the Civil Liability for Nuclear Damage Act to limit the liability on suppliers of equipment to build atomic energy plants. The government is also considering regulatory reforms and is evaluating the model of Indian National Space Promotion and Authorization Center which acts as the promoter and regulator for the space sector that was opened up for private participation in 2020. Finance Minister Nirmala Sitharaman announced opening up of the nuclear power sector which has been restricted to public sector companies. The Nuclear Power Corporation of India Limited operates atomic power plants across the country that contribute 8.7 GWe to the country's energy mix. Sitharaman also announced the Nuclear Energy Mission for research and development of Small Modular Reactors with an outlay of ₹20,000 crore and to operationalise five indigenously developed SMRs by 2033. The Department of Atomic Energy officials has recently said that the Nuclear Energy Mission aims to leverage private sector participation, streamline regulatory frameworks, and scale up nuclear power production to meet India's increasing energy demands. Foreign nuclear power firms had evinced interest in setting up atomic power plants in India after it secured a waiver from the Nuclear Suppliers Group to engage in global nuclear trade. The NSG waiver came after the landmark India-US civil nuclear deal of 2008. However, the Civil Liability for Nuclear Damage Act of 2010 proved to be an impediment for private sector participation. The private sector termed certain provisions of the law were unacceptable and contradicted the international Convention for Supplementary Compensation for Nuclear Damage . The government expects the private sector to pitch in with investments to achieve the target of producing 100 GWe nuclear power by 2047. The officials said that around 50 per cent of the 100 GW target is expected to come from Public-Private Partnerships . A parliamentary panel has also recommended establishing a robust financial model that includes government incentives, Viability Gap Funding , and sovereign guarantees to attract both domestic and foreign investments. The Committee had suggested that expediting legislative amendments to the Atomic Energy Act and Civil Liability for Nuclear Damage Act to encourage private investment in nuclear power generation. India plans to set up private sector SMRs of 220 MW Bharat Small Reactors for captive use. NPCIL had recently invited Request for Proposals from Indian industries for setting up 220 MW BSRs for captive use.
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Business Standard
25-04-2025
- Business
- Business Standard
India may allow up to 49% foreign investment in nuclear power plants
India could allow foreign companies to take a stake of up to 49 per cent in its nuclear power plants, three government sources said, as New Delhi draws up plans to open up its most guarded sector to help achieve goals to cut carbon emissions. The government has considered changing its nuclear foreign investment framework since 2023. The need to increase nuclear capacity, however, has become pressing as India seeks to replace carbon-intensive coal with cleaner sources of energy. Investment in the sector has the potential to spur tariff negotiations with the Unites States, although the officials could not say whether the issue would be linked to any trade deal. In 2008, a civil nuclear agreement with the United States provided for deals worth many billions of dollars with U.S. companies. The companies, however, have been deterred by the risk of unlimited exposure in the event of any accident and no foreign investment has been allowed in India's nuclear plants. If the latest proposals go through, together with plans to ease nuclear liability laws and allow domestic private players into the sector, they could remove the impediments to government aims to expand nuclear power capacity by 12 times to 100 gigawatts by 2047. The sources said any foreign nuclear investments would still require prior government approval rather than be allowed automatically. India's finance ministry, department of atomic energy and the prime minister's office did not respond to Reuters' queries. All three sources asked not to be named because the proposals are still under consideration. They said the necessary legal changes were likely to be placed before the federal cabinet soon and that the government aims to get the amendments to the Civil Liability for Nuclear Damage Act of 2010 and the Atomic Energy Act of 1960 passed in the monsoon session of Parliament in July. Amendments to the Atomic Energy Act would allow the government to issue licences to private companies to build, own and operate a plant and mine and manufacture atomic fuel, the three sources said. GOVERNMENT MONOPOLY Under the government's control, total Indian nuclear generation is just over 8 GW, 2 per cent of the country's installed electricity capacity. As the country seeks to shift away from coal, it is seeking to supplement wind and solar with atomic energy to meet high night-time energy demand. The atomic energy department has said foreign companies including Westinghouse Electric, GE-Hitachi, Electricite de France and Rosatom were interested in participating in the country's nuclear power projects as technology partners, suppliers, contractors and service providers. Indian conglomerates, including Reliance Industries, Tata Power, Adani Power, and Vedanta Ltd, have also held discussions with the government to invest about $26 billion in the nuclear power sector. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
25-04-2025
- Business
- Time of India
India may allow 49% foreign investment in its nuclear power plants
Since 2023, the government has been evaluating modifications to its nuclear foreign investment structure. (AI image) The Indian government is contemplating permitting foreign firms to acquire up to 49% ownership in nuclear power facilities, according to three government officials. This strategic shift aims to expand India's closely monitored nuclear sector, supporting India's objectives to reduce carbon emissions. Since 2023, the government has been evaluating modifications to its nuclear foreign investment structure. The urgency to expand nuclear capacity has intensified as India endeavours to substitute coal-based power generation with environmentally friendly alternatives. Such investments in the nuclear domain could potentially influence tariff discussions with the United States, although according to a Reuters report, officials were uncertain whether this matter would be connected to any specific trade agreement. A civil nuclear agreement with the United States in 2008 enabled deals valued at billions of dollars with American firms. Nevertheless, these companies remained hesitant due to unlimited liability risks during accidents, and foreign investments were restricted from India's nuclear facilities. The current proposals, coupled with plans to modify nuclear liability regulations and permit domestic private sector participation, could eliminate obstacles to the government's objective of expanding nuclear power capacity to 100 gigawatts by 2047, a twelve-fold increase. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-Founder of Google Brain, Andrew Ng, Is Reported To Have Read Every... Blinkist: Andrew Ng's Reading List Undo According to Reuters sources, foreign nuclear investments would continue to require explicit government approval rather than automatic clearance. The sources, requesting anonymity due to the ongoing deliberation of proposals, indicated that legal modifications would soon be presented to the federal cabinet. They stated that the government intends to pass amendments to the Civil Liability for Nuclear Damage Act of 2010 and the Atomic Energy Act of 1960 during Parliament's July monsoon session. The three sources revealed that amendments to the Atomic Energy Act would enable the government to grant licences to private enterprises for building, owning and operating plants, as well as mining and manufacturing atomic fuel. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Time of India
25-04-2025
- Business
- Time of India
India considers allowing 49% foreign stakes in nuclear power plants
India could allow foreign companies to take a stake of up to 49 in its nuclear power plants, three government sources said, as New Delhi draws up plans to open up its most guarded sector to help achieve goals to cut carbon emissions. The government has considered changing its nuclear foreign investment framework since 2023. The need to increase nuclear capacity, however, has become pressing as India seeks to replace carbon-intensive coal with cleaner sources of energy. Investment in the sector has the potential to spur tariff negotiations with the Unites States, although the officials could not say whether the issue would be linked to any trade deal. In 2008, a civil nuclear agreement with the United States provided for deals worth many billions of dollars with U.S. companies. The companies, however, have been deterred by the risk of unlimited exposure in the event of any accident and no foreign investment has been allowed in India's nuclear plants. If the latest proposals go through, together with plans to ease nuclear liability laws and allow domestic private players into the sector, they could remove the impediments to government aims to expand nuclear power capacity by 12 times to 100 gigawatts by 2047. The sources said any foreign nuclear investments would still require prior government approval rather than be allowed automatically. India's finance ministry, department of atomic energy and the prime minister's office did not respond to Reuters' queries. All three sources asked not to be named because the proposals are still under consideration. They said the necessary legal changes were likely to be placed before the federal cabinet soon and that the government aims to get the amendments to the Civil Liability for Nuclear Damage Act of 2010 and the Atomic Energy Act of 1960 passed in the monsoon session of Parliament in July. Amendments to the Atomic Energy Act would allow the government to issue licences to private companies to build, own and operate a plant and mine and manufacture atomic fuel, the three sources said. Government Monopoly Under the government's control, total Indian nuclear generation is just over 8 GW, 2 per cent of the country's installed electricity capacity. As the country seeks to shift away from coal, it is seeking to supplement wind and solar with atomic energy to meet high night-time energy demand. The atomic energy department has said foreign companies including Westinghouse Electric, GE-Hitachi, Electricite de France and Rosatom were interested in participating in the country's nuclear power projects as technology partners, suppliers, contractors and service providers. Indian conglomerates, including Reliance Industries , Tata Power , Adani Power , and Vedanta Ltd , have also held discussions with the government to invest about $26 billion in the nuclear power sector.
News18
25-04-2025
- Business
- News18
India Considers Allowing 49% Foreign Stakes In Nuclear Power Plants
Any foreign nuclear investments would require prior government approval rather than be allowed automatically. India could allow foreign companies to take a stake of up to 49% in its nuclear power plants, three government sources said, as New Delhi draws up plans to open up its most guarded sector to help achieve goals to cut carbon emissions. The government has considered changing its nuclear foreign investment framework since 2023. The need to increase nuclear capacity, however, has become pressing as India seeks to replace carbon-intensive coal with cleaner sources of energy. Investment in the sector has the potential to spur tariff negotiations with the Unites States, although the officials could not say whether the issue would be linked to any trade deal. In 2008, a civil nuclear agreement with the United States provided for deals worth many billions of dollars with U.S. companies. The companies, however, have been deterred by the risk of unlimited exposure in the event of any accident and no foreign investment has been allowed in India's nuclear plants. If the latest proposals go through, together with plans to ease nuclear liability laws and allow domestic private players into the sector, they could remove the impediments to government aims to expand nuclear power capacity by 12 times to 100 gigawatts by 2047. The sources said any foreign nuclear investments would still require prior government approval rather than be allowed automatically. India's finance ministry, department of atomic energy and the prime minister's office did not respond to Reuters ' queries. All three sources asked not to be named because the proposals are still under consideration. They said the necessary legal changes were likely to be placed before the federal cabinet soon and that the government aims to get the amendments to the Civil Liability for Nuclear Damage Act of 2010 and the Atomic Energy Act of 1960 passed in the monsoon session of Parliament in July. Amendments to the Atomic Energy Act would allow the government to issue licences to private companies to build, own and operate a plant and mine and manufacture atomic fuel, the three sources said. Under the government's control, total Indian nuclear generation is just over 8 GW, 2% of the country's installed electricity capacity. As the country seeks to shift away from coal, it is seeking to supplement wind and solar with atomic energy to meet high night-time energy demand. The atomic energy department has said foreign companies including Westinghouse Electric, GE-Hitachi, Electricite de France and Rosatom were interested in participating in the country's nuclear power projects as technology partners, suppliers, contractors and service providers. Indian conglomerates, including Reliance Industries, Tata Power, Adani Power, and Vedanta Ltd, have also held discussions with the government to invest about $26 billion in the nuclear power sector.
