India’s federal power minister on Tuesday asked the states that are away from coal resources to consider setting up nuclear-based power plants, besides identifying and listing the power utilities to meet investments to support growing power demand.
The Indian government in its federal budget this year had proposed to partner with private players to develop small nuclear reactors to increase the amount of electricity from sources that do not produce carbon dioxide emissions.
States should consider setting up nuclear power plants at the sites where coal-based thermal power plants have completed their life, Manohar Lal, the country’s power minister, told states as per a government statement.
India’s stringent nuclear compensation laws have hampered talks with foreign power plant builders such as General Electric GE.N and Westinghouse.
The country, which currently has about 8 gigawatts of nuclear capacity, aims to increase it to 20 GW by 2032.
The minister also asked the states to identify and list their power utilities in the country’s stock exchange to meet increasing investment demand in the power sector as well as improve the transmission system to add more renewable capacity.
India has pledged to achieve a net zero carbon emission target by 2070 and has a target of 500 GW of renewable energy by 2030.
