India-Russia bold nuclear deal to triple capacity for a sustainable future by 2032. (Photo/ Gettyimages)
New Delhi (EPICSTORIAN) – India has set an ambitious target to triple its nuclear power generation capacity to 22.4 gigawatts by 2032, a significant step towards achieving carbon neutrality by 2070.
The government plans a phased expansion, with capacity increasing from the current 7.4 gigawatts to 13 gigawatts by 2029, and ultimately reaching the 22.4-gigawatt milestone three years later, a previous report revealed.
To fuel this growth, the Indian government seeks to secure approximately $26 billion in private investments, where negotiations are reportedly in progress with at least five major corporations, including Reliance Industries, Tata Power, and Adani Power.
Each company is expected to invest around 44 billion rupees ( $520, 312,896.40), contributing to the nation’s nuclear advancement.
Additionally, the government is fostering private sector involvement in small modular reactor research, supported by a budget allocation of $11.9 billion this year.
Russia remains a key partner in India’s nuclear journey. The Kudankulam nuclear power plant, built with Russian collaboration, stands as India’s largest. Its first reactor became operational in 2014, followed by the second in 2016.
Continuing their partnership, India and Russia are progressing toward the construction of six more reactors. An agreement signed in December outlines plans for two new plants, which will add about 6 gigawatts to India’s nuclear grid.
India’s major focus on this commitment, according to experts’ opinions, is strategically addresses the country’s growing Energy, including reducing its carbon footprint and transitioning toward cleaner energy sources.
