
NEW DELHI: The government will develop at least 100 GW of nuclear energy by 2047 for energy transition, said Finance Minister Nirmala Sitharaman on Saturday.
Sitharaman, while presenting the Budget 2025, also mentioned that these nuclear power plants will be established in partnership with private players.
“Development of at least 100 GW of nuclear energy by 2047 is essential for our energy transition efforts. For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up,” said the finance minister.
In addition, the Finance Minister revealed plans for a Nuclear Energy Mission, focusing on the research and development of Small Modular Reactors (SMRs). The mission will be allocated a budget of Rs 20,000 crore, with the goal of having at least five indigenously developed SMRs operational by 2033.
Currently, nuclear energy production in India is largely controlled by government-run entities. India aims to achieve net zero emissions by 2070. As of November 30, 2024, the country had successfully established an installed electricity generation capacity of 213,701 megawatts from non-fossil fuel sources, accounting for 46.8 per cent of total capacity.
India aims to achieve 50 per cent non-fossil fuel generation capacity by 2030, with significant advances in nuclear, hydro, and renewable energy sources.
The Minister also announced plans to incentivize electricity distribution reforms and the augmentation of intra-state transmission capacity by states. This, she said, would improve the financial health and capacity of electricity companies.
Additionally, she confirmed that states would be allowed additional borrowing of 0.5 per cent of GSDP, contingent upon the implementation of these reforms.
“We will incentivize electricity distribution reforms and augmentation of intra-state transmission capacity by states. This will improve financial health and capacity of electricity companies. Additional borrowing of 0.5 per cent of GSDP will be allowed to states, contingent on these reforms,” said Sithraman.