Tata Power CEO Praveer Sinha targets first nuclear plant by 2032 after India opened the sector to private firms. Sites shortlisted in three states before rules are finalized.
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Tata Power Co. expects to build its first nuclear plant as early as 2032, after India ended a decades-old state monopoly in atomic power to bolster its energy security while decarbonizing.
The company has shortlisted sites in at least three states and will start work after the government finalizes rules for private companies, CEO Praveer Sinha said in a Bloomberg Television interview on Tuesday.
“What we can expect is that early part of 2028 we will start possibly the construction activity,” Sinha said. “We are targeting that 2032-2033, we will have the first of the nuclear plants ready in the private sector.”
The push mirrors a global revival of the industry. Countries are shedding the caution that followed the 2011 Fukushima disaster as surging electricity demand from artificial intelligence and data centers revives interest in atomic power. Japan is restarting reactors, while China, South Korea and Bangladesh are among the nations building new ones.
Tata Power has identified sites in Madhya Pradesh, Odisha, and Gujarat. Geotechnical studies have already started, according to Sinha.
He expects the government to clarify issues such as long-term uranium supplies and price stability as it finalizes rules under the nuclear bill. “We expect the approval process will take 12 to 14 months,” he added.
Last year, India’s parliament passed a bill opening the sector to private firms, aiming to expand nuclear generation capacity eleven-fold by 2047. The sector supplies just 3% of India’s electricity now, with state-owned Nuclear Power Corp. operating the entire 8.8 gigawatts of capacity. The expansion will require nearly 19.3 trillion rupees ($202 billion) in investment, according to a government panel.
Earlier this month, Australia agreed to supply uranium for India’s civil nuclear program and expand energy cooperation during Prime Minister Narendra Modi’s official visit.
–With assistance from Paul Allen and Naman Tandon.
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