India carries out a financially strong nuclear power plan

India’s nuclear power plan remains unharmed amidst the current global crisis. Nuclear Power Corporation of India (NPCIL) is backed by over $2.75 billion in cash reserves to finance the projects’ equity portion. The debt portion, on the other hand, will be addressed through domestic and external commercial borrowings.

The plan aims to increase India’s share of nuclear energy to 9 percent from its current share of 4.1 percent. India intends to build 1,500 Mw (3X500 Mw) fast breeder reactors and 5,600 Mw (8X700 Mw) pressurised heavy water reactors. Advanced heavy water reactors and light water reactors will also be built. Nuclear power generation capacity is set to improve from the current 4,120 Mw to as much as 60,000 Mw.

NPCIL Chairman and Managing Director SK Jain believes India’s plan presents a huge opportunity for suppliers. Potential vendors from the United States, France and Russia will be providing light water reactors to India’s nuclear parks. Jain said, “We have conveyed to the vendors that the deal will be based on fuel supply assurance for the lifetime of reactors.” Simultaneous construction in at least four sites will begin once the deal is executed.