In addition to identifying and listing the power utilities to meet investments to support expanding power demand, India’s federal power minister on Tuesday requested states that are far from coal resources to think about establishing nuclear-based power plants.
In order to enhance the quantity of electricity coming from sources that don’t emit carbon dioxide, the Indian government said in this year’s federal budget that it would collaborate with private companies to build tiny nuclear reactors.
According to a government release, Manohar Lal, the nation’s electricity minister, advised governments to think about constructing nuclear power stations where coal-based thermal power plants had reached the end of their useful lives.
Negotiations with foreign power plant builders like General Electric GE.N and Westinghouse have been impeded by India’s strict nuclear compensation regulations.
The nation’s nuclear capacity is currently around 8 gigawatts, and by 2032, it wants to reach 20 GW.
In order to fulfill the growing demand for investments in the power industry and to upgrade the transmission infrastructure to accommodate more renewable capacity, the minister also asked the states to identify and list their power utilities on the national stock exchange.
In addition to aiming for 500 GW of renewable energy by 2030, India has committed to reaching a net zero carbon emission target by 2070.
