Posted inTechnology News
India Explores Domestic Investments to Boost Nuclear Sector for Clean Power
India is seeking investments from large domestic companies to enhance its regulated nuclear sector, aiming to promote clean power. The Atomic Energy Act, 1962, currently restricts private ownership of nuclear plants, with the government retaining control over atomic energy. Amendments to the Act permit the Nuclear Power Corporation of India (NPCIL) to form joint ventures for new projects. While private companies can participate in certain activities, direct investment is limited to public sector units. India's focus on nuclear power aligns with its clean energy goals, with emphasis on both 'green' and 'pink' hydrogen production. 'Pink' hydrogen, powered by nuclear energy, offers potential for significant hydrogen production despite higher costs. The industrial applications of nuclear power include high-temperature processes and electricity generation. Amending the Atomic Energy Act to facilitate private investments is proposed, with future collaborations targeting research, technology transfer, and scaling up hydrogen projects to support India's transition to net-zero emissions.