Atomic Energy: There will be changes in nuclear energy laws, Modi government is making a big plan

News Topical, Digital Desk : The central government is considering making changes to several laws governing the nuclear energy sector to allow private companies to participate in the project to achieve the target of producing 100 gigawatts of atomic energy by 2047. Government sources said amendments are also being considered to the Atomic Energy Act to allow private companies to participate and to the Civil Liability Act for Nuclear Damage to reduce liability on suppliers of equipment for the construction of nuclear power plants.

The door for private participation was opened in 2020 itself

Sources further said the government is also considering regulatory reforms and evaluating the model of the Indian National Space Promotion and Authorisation Centre (INSPACe), which acts as the promoter and regulator for the space sector, which was opened up to private participation in 2020. Finance Minister Nirmala Sitharaman announced the opening up of the nuclear energy sector in Budget 2020, which was till now restricted to public sector companies.

5 SMRs operational by 2033

Let us tell you that Nuclear Power Corporation of India Limited operates nuclear power plants in the country, which provide 8.7 gigawatts of electricity in the country. Sitharaman also announced the Nuclear Power Mission for research and development of small modular reactors (SMRs) with an outlay of Rs 20,000 crore and commissioning of 5 indigenously developed SMRs by 2033.

The aim is to increase production on a large scale

Officials in the Department of Atomic Energy recently said that the Atomic Energy Mission aims to promote private sector participation, simplify the regulatory framework and increase nuclear energy production to meet India's growing energy needs. Foreign nuclear energy companies had shown interest in setting up nuclear power plants in India after India received a waiver from the Nuclear Suppliers Group to join the global nuclear trade.

Target of 100 gigawatt nuclear energy production

Let us tell you that the NSG exemption was granted after the historic India-US civil nuclear deal of 2008. However, the Civil Liability for Nuclear Damage Act of 2010 proved to be an obstacle to the participation of the private sector. The private sector called some provisions of the law unacceptable and refuted the international agreement for supplementary compensation for nuclear damage (CSC). In such a situation, now the government hopes that the private sector will invest to achieve the target of 100 gigawatt nuclear energy production by 2047.

50% expected to come from PPP

About 50 per cent of the 100 GW target is expected to come from public-private partnerships (PPP), officials said. A parliamentary committee has also recommended setting up a robust financial model that includes government incentives, VGF and guarantees to attract both domestic and foreign investments. The committee had suggested that legislative amendments to the Nuclear Energy Act and the Civil Liability for Nuclear Damage Act be expedited to encourage private investment in nuclear energy production.

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