India has set for itself an ambitious target to generate 63000 MW of nuclear energy by 2032. In order to hit this target India has decided to expand its nuclear power program by establishing more nuclear plants in different parts of the country.State owned Nuclear Power Corporation of India Ltd (NPCIL) currently executes nuclear reactors through a mix of debt and equity budgetary support and debt financing from the technology sourcing country namely U.S.A, Russia and France.
“Nuclear Power Corporation of India Limited (NPCIL) is a state owned enterprise under the administrative control of the department of Atomic Energy (DAE), Government of India. The company was registered as a Public Limited Company under the companies Act. NPCIL is responsible for design, construction, commissioning and operation of nuclear power reactors”
(NPCIL) is in talks with many cash rich state owned enterprises in energy sector which includes Oil and Natural gas Corporation, Indian Oil Corporation and National Thermal Power Corporation NTPC Limited (NTPC) LTD, as well as national transporter which includes Indian railway to float joint ventures for establishing nuclear power plants in different part of India.India railways and state owned enterprises in energy sector could soon be funding in nuclear energy sector of India.
According to NPCIL director projects Rohit Banerjee, they are negotiating with many state owned enterprises of India these days to cooperate in nuclear energy sector which was allowed after the amendment in Atomic Energy act of India.
The 1962Atomic Energy Act of India was amended in January 2016 which allowed NPCIL to collaborate with state owned enterprises of India in the nuclear field.
Note:
Atomic Energy Act 1962 was amended in January 2016 to expand the definition of a government company providing for creation of joint ventures that are majority owned by NPCIL while other state run companies own 49%.
