Nuclear power plans announced by state-run and private companies have crossed 70 GW, translating into a potential investment requirement of Rs 10.8-14.4 lakh crore, as India’s atomic-energy programme begins shifting from a single-operator model to a wider field of developers.
The identified pipeline totals about 71.86 GW across NTPC, Adani Power, Reliance Industries, Naveen Jindal Group, Lalitpur Power Generation Company, Tata Power, Hindalco Industries and BHAVINI. The projects range from long-term targets and memoranda of understanding to site studies and proposals, they do not represent sanctioned or construction-ready capacity.
As per recent industry benchmarks, every MW of nuclear power entails investment of Rs 15-20 crore. Specific investment announcements so far add up to about Rs 8.78 lakh crore, although they cover different development periods and, in some cases, only part of the stated capacity. NTPC has the largest announced target outside NPCIL at 30 GW by 2047. It said on Wednesday that nearly Rs 1.28 lakh crore would be earmarked for nuclear power through FY37. The firm identified more than 30 potential sites and begun studies at 10 locations. Its first anchor project is the 2.8-GW Mahi Banswara plant in Rajasthan, being developed with NPCIL through Anushakti Vidhyut Nigam.
Nuclear power currently contributes only about 3% of India’s electricity generation, with all existing reactors operated by the state-owned NPCIL.
Private Conglomerates
Adani Power has outlined a 10-GW target by 2035 and is assessing sites at Bina and Nigrie in Madhya Pradesh. Its investment commitment includes Rs 1.5 lakh crore for an initial 6 GW proposed in Maharashtra, while final decisions will depend on regulatory clarity and reactor economics.
Reliance Industries has proposed Rs 2 lakh crore for 7.2 GW, while Lalitpur Power Generation Company, part of the Bajaj Group, has outlined Rs 2 lakh crore for 5 GW. Both proposals form part of Maharashtra’s nuclear investment programme.
The Naveen Jindal Group plans to develop around 18 GW across several states with an estimated investment of Rs 2 lakh crore, according to media reports. Its nuclear subsidiary is evaluating sites in more than nine states and technologies from NPCIL, EDF and Westinghouse, including reactors of 700 MW and above.
Tata Power is progressing an initial 440-MW plan comprising two 220-MW reactors with NPCIL. It has begun site studies in Madhya Pradesh, Odisha and Gujarat and aims to complete a detailed project report within six months. The company expects to build its first nuclear plant by as early as 2032.
Hindalco has submitted the sole proposal received by NPCIL for a 220-MW Bharat Small Reactor for captive industrial use. BHAVINI has a 1-GW future pipeline through two proposed 500-MW fast breeder reactors at Kalpakkam, where pre-project activities are under way. According to the government statement, BHAVINI is commissioning the 500 MW Prototype Fast Breeder Reactor at Kalpakkam, Tamil Nadu. Its estimated completion cost is Rs 8181 crore and the project is expected to get fully commissioned by March 2027.
The company pipeline is already larger on paper than the 46 GW the government expects from entities outside the NPCIL-led programme. However, the numbers cannot be added directly to the national target because some projects involve joint ventures, several remain preliminary and final capacity will depend on approvals, technology and financing.
Strategic Roadmaps Align
Under the government road map, India’s operational nuclear capacity of 8.78 GW is expected to rise to about 22 GW by 2031-32. NPCIL is envisaged to add another 32 GW after 2032, taking the NPCIL-led programme to around 54 GW by 2047, as the country targets an overall nuclear capacity of 100 GW by then.
Report prepared by Saurav Anand
Source: Financial Express
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