The Indian government has set a goal of achieving carbon neutrality by 2070, positioning nuclear power as a key energy source. India will gradually increase its nuclear power capacity from 7.4 gigawatts to 13 gigawatts by 2029 and to 22.4 gigawatts by 2032.
To support this, the government is seeking to attract about $26 billion in private investment. It is in talks with at least five private companies including Reliance Industries, Tata Power and Adani Power for investments of around 44 billion rupees each. It is also encouraging private sector participation in small modular reactor research. Through this year’s budget plan, India intends to provide $11.9 billion in support.
India is also working closely with Russia in the nuclear sector. Russia was responsible for building the Kudankulam nuclear power plant, the largest in India. The first unit started operating in 2014, and the second in 2016.
Subsequently, India and Russia began talks to build six more nuclear power plants. In December, they signed an agreement to construct two additional plants with a total capacity of about 6 gigawatts.
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