During the last three years and the current year, the Government has accorded administrative approval and financial sanction for construction of twelve (12) nuclear power reactors – ten (10) indigenous 700 MW Pressurized Heavy Water Reactors (PHWRs) to be set up in fleet mode & two (02) units of Light Water Reactors (LWRs) to be set up in cooperation with Russian Federation to enhance nuclear power capacity in the country. Presently, two public sector companies of the Department of Atomic Energy, Nuclear Power Corporation of India Limited (NPCIL) and BharatiyaNabhikiyaVidyut Nigam Limited (BHAVINI) are involved in nuclear power generation.

There is no proposal under consideration at present to permit the non-Government sector in the area of nuclear power generation. However, the private sector participates in the nuclear power sector by providing core reactor components, equipment, materials and services in areas that include construction, fabrication & erection of equipment, piping, electrical, instrumentation, consultancy, auxiliary and logistical services.

Investment in Atomic Energy

The Capital investment for nuclear power projects is being funded with a debt to equity ratio of 70:30. The equity part is funded from internal resources of Nuclear Power Corporation of India Limited (NPCIL) and Government Budgetary Support.

The present policy (Consolidated FDI Policy of Government) puts atomic energy in the list of prohibited sectors. However, there is no restriction on FDI in the nuclear industry for the manufacturing of equipment and providing other supplies for nuclear power plants and related other facilities.

Government of India has amended the Atomic Energy Act, 1962 in 2015 to enable the licensing of NPCIL’s Joint Ventures for setting up nuclear power projects. To boost domestic investment, Joint Ventures have been formed by NPCIL with public sector majors National Thermal Power Corporation Limited (NTPC), Indian Oil Corporation Limited (IOCL) and National Aluminium Company Limited (NALCO).

This information was given by the Union Minister of State (Independent Charge), Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh in a written reply in Lok Sabha on 16 September.