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Nuclear power sector in India has already travelled quite a long way to reach the present stage with 6780 MW installed capacity and 22 reactors from starting with two boiling water reactors worth 320 MW in 1969. Today, nuclear power provides nearly 3% of total electricity in India and this percentage will go up soon due to massive capacity addition in the coming years. Though India’s nuclear power sector is 100% controlled by the central government in operation and maintenance, the expansion of nuclear power sector is equally attractive to numerous private enterprises across the world, obviously including India. It is therefore imperative to know the prospective and driving factors of Indian nuclear power sector for industries, nuclear energy experts, policymakers across the world.
“India Nuclear Power Sector Generation and Investment Opportunity Outlook 2032” report gives comprehensive insight on the ongoing policy and structural developments in the nuclear power sector in India. As per report findings, nuclear power as emerged as one the most focused area for the power sector policy and regulatory framework in order to improve the overall power sector scenario in India.
Report provides detailed review of India’s power sector with nuclear power as the focus. The relative importance of nuclear power in India’s power sector as a whole – both in terms of installed generation capacity or electricity output seems to be small. But its huge potential to change country’s energy scenario makes it the point of discussion. An analytical discussion of India’s power demand and how it can be meet has been in the beginning of the report. As the analysis goes on, it becomes clear that nuclear power is the most suitable alternative form of energy in the context of existing structure of power generation. A comparison of all alternative forms of energy – be it nuclear or renewable reveals that for environmental concerns, both of these clean energy sources must be used but the thrust should be on nuclear. Financial analysis shows that a nuclear power plant provides return on investment that is equivalent to a coal based power plant of equal capacity along with providing pollutant-free electricity. Furthermore, nuclear power can generate electricity continuously unlike renewable sources like solar and wind which are intermittent in nature.
All the possible factors that could drive India’s nuclear power sector have got special importance in the report with analysis. There are also discussions on the impact of the expansion of nuclear power sector. The expansion plan of this sector as stated by Indian government department concerning nuclear energy is quite ambitious and has the potential to transform the entire energy sector to make India on the track of sustainable development. India has the perfect atmosphere that can help grow the nuclear power market to the desired level so that nuclear energy becomes key element of power sector. The report argued why nuclear power will be India’s answer to meet the rising power demand and increase the proportion of clean energy to cut down carbon emissions. Growth of nuclear power has been analyzed to cause remarkable economic progress in India in various aspects other than increase in electricity generation. Nuclear power sector itself will bring close to US$ 500 Million annual investment in the country that can certainly transform a major part of economy by creating large number of employments – both direct and indirect.
In order to ensure energy security due rapid depletion of coal reserve and rising concerns for environmental pollution due to burning of coal, India has been expanding power sector through clean energy sources for years. In last 10 years, there has been substantial growth in the installation of clean energy based power generation including renewables and nuclear and future target set for them are also ambitious. But lower CUFs for renewable based power generation and intermittent nature, particularly solar and wind, make nuclear power as the better alternative to fossil fuels based power generation. Indian economy has been growing with tremendous pace and it needs reliable, uninterrupted power supply. Hence policymakers will obviously put more thrust on that energy source that can be used for based load power generation plants to provide electricity round the clock. Here nuclear suits much more than all other clean energy sources. Therefore India is likely to put more stress on expansion of nuclear power generation capacity along with greater utilization of renewable energy sources.
“India Nuclear Power Sector Generation and Investment Opportunity Outlook 2032” report highlights:
India Nuclear Power Sector Overview
India Nuclear Power Sector Indicators
India Existing and upcoming Nuclear Power Plants Overview
Indian Nuclear Power Regulatory and Policy Framework
India Nuclear Power Plants Infrastructure
India Nuclear Fuel Supply Scenario