Tata Power Keen On Small Nuclear Projects, Awaits Clarity On Participation And Liabilities

Tata Power Co. is keenly awaiting clarity on the government's plans to support private participation in small and modular reactor projects and is keen to explore opportunities in the sector.

Presenting the Union Budget on Feb. 1, Finance Minister Nirmala Sitharaman proposed an outlay of Rs 20,000 crore to set up research and development of small modular reactors as part of its nuclear energy mission. It announced plans to amend the Nuclear Energy Act and laws relating to nuclear liabilities to raise nuclear power capacity to 100 gigawatts by 2047.

It is a wait-and-watch policy right now. Tata Power is awaiting clarity on amendments and laws relating to nuclear liabilities as it is crucial relating to liabilities that the power project owner will have to bear in case of a mishap, Chief Executive Officer Praveer Sinha told reporters in a conference call on Tuesday.

On the demand side, Sinha said the power demand is growing rapidly, with peak power demand crossing 230 GW this week. He expects power demand to cross 265–270 GW this year, driven by increasing economic activity and urbanisation. Last year, the peak power demand touched 256 GW in September.