Latest news with #NuclearEnergyMission
Time of India
21-05-2025
- Business
- Time of India
India may allow up to 49% foreign direct investment in nuclear energy in phases
New Delhi: India could allow up to 49 per cent foreign direct investment in nuclear energy , but the cap would be relaxed only in phases. "We are open to allowing foreign investment... We can even go up to 49 per cent , but in tranches," a senior government official told ET. The government could in the initial phase only allow up to 26 per cent and raise it later after a review. ET had reported earlier that the proposed framework is also likely to stipulate majority ownership by the Indian partner in the venture. New Delhi plans to open up the strategic sector to private sector looking to increase its nuclear energy to 40 GW by 2035 from 8 GW now. The sector is not open to private participation, and it remains in the negative list for foreign direct investment. Finance minister Nirmala Sitharaman in her February budget said that government would amend the Atomic Energy Act and Civil Liability for Nuclear Damage Act, which will facilitate the entry of private players into the sector. "Development of at least 100 GW of nuclear energy by 2047 is essential for our energy transition efforts. For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up," she had said. She also said a Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of ₹20,000 crore will be set up. At least five indigenously developed SMRs will be operationalised by 2033. The official said changes to the Acts are being firmed up and discussions are on with stakeholders. The government had set up committees comprising senior officials to finalise the changes to these Acts and the process is on, the official added. Foreign companies have shown interest in India's upcoming nuclear units, as per industry experts. Russian nuclear firm Rosatom has offered India the expertise to build small modular reactors (SMRs), apart from French state-owned firm EDF, an ET report had said in February. The government is also firming up the roadmap for 100 GW nuclear energy installed capacity by 2047, which will outline all technologies that could be deployed to achieve India's nuclear energy mission.
Time of India
20-05-2025
- Business
- Time of India
India may allow up to 49% foreign direct investment in nuclear energy in phases
New Delhi: India could allow up to 49% foreign direct investment in nuclear energy , but the cap would be relaxed only in phases. "We are open to allowing foreign investment... We can even go up to 49%, but in tranches," a senior government official told ET. The government could in the initial phase only allow up to 26% and raise it later after a review. ET had reported earlier that the proposed framework is also likely to stipulate majority ownership by the Indian partner in the venture. New Delhi plans to open up the strategic sector to private sector looking to increase its nuclear energy to 40 GW by 2035 from 8 GW now. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Signs That A Heart Attack Is Imminent Learn It Wise Undo The sector is not open to private participation, and it remains in the negative list for foreign direct investment. Live Events Finance minister Nirmala Sitharaman in her February budget said that government would amend the Atomic Energy Act and Civil Liability for Nuclear Damage Act, which will facilitate the entry of private players into the sector. "Development of at least 100 GW of nuclear energy by 2047 is essential for our energy transition efforts. For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up," she had said. She also said a Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of ₹20,000 crore will be set up. At least five indigenously developed SMRs will be operationalised by 2033. The official said changes to the Acts are being firmed up and discussions are on with stakeholders. The government had set up committees comprising senior officials to finalise the changes to these Acts and the process is on, the official added. Foreign companies have shown interest in India's upcoming nuclear units, as per industry experts. Russian nuclear firm Rosatom has offered India the expertise to build small modular reactors (SMRs), apart from French state-owned firm EDF, an ET report had said in February. The government is also firming up the roadmap for 100 GW nuclear energy installed capacity by 2047, which will outline all technologies that could be deployed to achieve India's nuclear energy mission.
Time of India
19-05-2025
- Business
- Time of India
Govt considering amendments to Atomic Energy Act, nuclear liability law
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 (INSPACe) 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 (SMR) with an outlay of Rs 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 (CSC). 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 (PPP). A parliamentary panel has also recommended establishing a robust financial model that includes government incentives, Viability Gap Funding (VGF), 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 (BSR) for captive use. NPCIL had recently invited Request for Proposals from Indian industries for setting up 220 MW BSRs for captive use.
Time of India
19-05-2025
- Business
- Time of India
Govt considering amendments to Atomic Energy Act, nuclear liability law
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel 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 government is also considering regulatory reforms and is evaluating the model of Indian National Space Promotion and Authorization Center (INSPACe) which acts as the promoter and regulator for the space sector that was opened up for private participation in 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 also announced the Nuclear Energy Mission for research and development of Small Modular Reactors (SMR) with an outlay of Rs 20,000 crore and to operationalise five indigenously developed SMRs by 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 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 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 (CSC).The government expects the private sector to pitch in with investments to achieve the target of producing 100 GWe nuclear power by officials said that around 50 per cent of the 100 GW target is expected to come from Public-Private Partnerships (PPP).A parliamentary panel has also recommended establishing a robust financial model that includes government incentives, Viability Gap Funding (VGF), and sovereign guarantees to attract both domestic and foreign 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 plans to set up private sector SMRs of 220 MW Bharat Small Reactors (BSR) for captive use. NPCIL had recently invited Request for Proposals from Indian industries for setting up 220 MW BSRs for captive use.
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.
