The Indian Government, led by Union Minister Dr. Jitendra Singh, has announced a groundbreaking initiative to augment the country’s nuclear power capacity from 7,480 MW to 22,480 MW by the year 2031-32. This substantial increase is a part of India’s long-term strategy for energy security and transitioning towards a net-zero economy by 2070.
Over the past decade, the annual electricity generation from nuclear power plants in India has risen from 35,334 Million Units in 2013-14 to 46,982 Million Units in 2022-23. The installed nuclear power capacity also saw a significant increase from 4,780 MW to 7,480 MW. Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, and MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, shared these details in the Lok Sabha.
In the current fiscal year 2023-24, India has already generated approximately 32,017 Million Units of electricity from nuclear power, moving closer to the ambitious Memorandum of Understanding (MoU) target of 52,340 Million Units. With 23 nuclear power reactors currently operational, the country has produced around 411 Billion Units (BUs) over the last decade, effectively reducing carbon emissions by about 353 Million Tons.
Expanding Nuclear Power: A Roadmap to Sustainability
Dr. Singh elaborated on the construction and commissioning of ten reactors, totaling 8,000 MW, across various Indian states, including Gujarat, Rajasthan, Tamil Nadu, Haryana, Karnataka, and Madhya Pradesh. Pre-project activities for ten more reactors, sanctioned by the Government, are also underway, aiming for completion by 2031-32. A significant collaboration with the USA is planned to set up a 6 x 1,208 MW nuclear power plant in Kovvada, Andhra Pradesh.
A Decade of Safe Nuclear Power Generation
The Union Minister highlighted the excellent safety record of India’s nuclear power generation in the past ten years. Notable achievements include the 50-year operation of TAPS 1&2 and a world record of continuous operation by KGS-1 for 962 days.
Indian Space Economy: A Leap Forward
In parallel, Dr. Singh announced a significant increase in investment in Indian Space Start-Ups, reaching $124.7 million in 2023. The Indian Space Economy is projected to expand from around $8.4 billion to $44 billion by 2033. To further bolster this growth, the Department of Space, in consultation with the Department for Promotion of Industry and Internal Trade (DPIIT), is revising the FDI policy guidelines for the space sector.
Conclusion: A Future of Sustainable Energy and Space Innovation
This comprehensive approach, combining nuclear power expansion and fostering the space sector, underscores India’s commitment to sustainable energy and technological innovation. Close coordination with state governments ensures efficient implementation of these ambitious projects, paving the way for India’s journey towards a net-zero economy by 2070.
Discover more from Business-News-Today.com
Subscribe to get the latest posts sent to your email.