NTPC Chief Flags Low Private Interest in Nuclear Power Despite New Law

Speaking at an event on India's nuclear journey, Singh said the law addressed the two biggest concerns that had held back private participation for years.

"Their main concern was liability, which I believe has been taken care of, and the other end is the private sector participation, which is again already taken care of," he said. "But after that, I think the same kind of excitement from the private sector is not seen. I'm not sure what the reason is... what are the things which are really causing some kind of constraints?"

Singh called the Act a "pioneering effort" by the government and said it was passed after "wider discussion and extensive involvement from almost all stakeholders." The next step, he stressed, is framing the rules quickly. "The Act has been enacted, and now the work has to start on the rules... as soon as this comes, this is far better." He urged the conference to spend time on recommendations that can go to the government, especially on fuel. "The fuel availability for the plant, which is going to be for 60 years, can be insured... energy security, whether it is in the primary energy or whether it is in the logistics, I think this is much more important than anything else."

India has set a target of 100 GW of nuclear capacity to help achieve Viksit Bharat by 2047. Singh said three sources will underpin India's energy security: coal, renewables with storage "so that it can become dispatchable power whenever you want"; and nuclear, which he called a "very, very important pillar." Globally, nuclear provides about 10% of electricity from 400 GW of capacity, with long plant lives of 60-plus years. "Countries which have earlier gone for nuclear... are reaping the benefit," he said, citing France as a "shining example" in the current energy crisis.

On technology choice, Singh cautioned against over-dependence on a single supplier or country. "If you are having dependence only on one technology or one supplier or one of the service providers... we can face serious situations. And this is what, at present, I think the world is facing." He said even if domestic options are "5-10% costlier," control over technology and resources should get "much more priority rather than only... splitting the last paisa for the balance sheet."

NTPC itself aims to build around 30 GW of the 100 GW national target by 2047, from zero today. "There is a long way to go," Singh said, adding that financing for NTPC will be "relatively easier than somebody who is going to do the project financing." On small modular reactors, he said NTPC's assessment is to focus on larger sets for now. "It is coming out clearly that companies like NTPC should focus on the larger sets rather than the SMRs at present." SMRs could suit captive industry use, but "the cost is going to be quite enormous... if they want to have the standby facilities."

Execution remains the big challenge, Singh noted. "Many of the countries, including us... are taking quite a long time and... the cost is coming from the IDC." Standardised designs, faster regulatory clearances, and on-site decision-making between developers and contractors are key to cutting timelines. He also flagged state-level hesitation despite the Prime Minister's push for at least one nuclear plant in every state. "We are working with around 14 states... still, I think the acceptance is not that high." Visits to sites like Kakrapar, he said, have shifted perceptions, and more such outreach is needed. "Nuclear is safe." Singh closed by thanking the Central Electricity Authority for convening the conference and said the discussions should help "take the nuclear journey forward."

- ANI