Govt to partner with private players to set up nuclear reactors

Union Finance Minister Nirmala Sitharaman announced the government’s decision to partner with the private sector to create small and modular nuclear reactors and conduct research on newer nuclear technologies, unveiling a significant initiative aimed at improving India’s technology and infrastructure for the efficient production of nuclear energy.

Creating small and modular reactors indicates a departure from traditional large-scale nuclear plants, thus offering more cost-effective and flexible power solutions.

Presenting the Union Budget for FY 2024-25 in the Lok Sabha, Sitharaman announced a diversified energy plan which included small, modular nuclear reactors, rooftop solar plants, and indigenous technology for Advanced Ultra Super Critical (AUSC) thermal power plants.

In her speech, Sitharaman emphasised the pivotal role of nuclear energy in India’s development plans, stating it would be a significant component of the “Viksit Bharat” or “Developed India” vision.

She announced the government’s collaboration with the private sector to set up Bharat Small Reactors (BSRs), and undertake research and development for Bharat Small Modular Reactors and other advanced nuclear technology. She further confirmed the R&D funding allocated in the interim budget would support these initiatives.

Regarding renewable energy, Sitharaman highlighted the success of the “PM Surya Ghar Muft Bijli Yojana”, aimed at installing rooftop solar plants to provide free electricity to 10 million households consuming up to 300 units a month. She noted the scheme’s strong response, with over 12.8 million registrations and 1.4 million applications, and pledged further support to encourage its expansion.

Additionally, she outlined plans to develop a roadmap shifting “hard to abate” industries from energy efficiency targets to emission targets, aiming to enhance environmental sustainability in industrial sectors.

Small nuclear reactors are advanced nuclear reactors that have a power capacity of up to 300 MW(e) per unit, about a third of the capacity of traditional nuclear reactors. The government’s decision to partner with the private sector to develop these reactors is being seen as a move through which private expertise and investments can be leveraged, thus, helping India emerge as a global nuclear power leader.

The essential thing to note about small modular reactors is that they can be manufactured easily in factories and can then be transported to sites where they will be used, especially remote locations and areas with small energy needs.

These small modular reactors offer various advantages, including better safety features, streamlined completion timelines and lower capital investment.

Moreover, with rising energy demands, small nuclear reactors will diversify the energy mix, reducing reliance on fossil fuels and minimising risks associated with energy imports.

The initiative is expected to generate job opportunities for Indians and will help in developing advanced nuclear technologies and support India’s shift towards a low-carbon economy, in line with its climate objectives and global commitments. Small nuclear reactors promise to ensure a steady and resilient power supply, crucial for making India self-sufficient and stable in achieving energy.