The report outlined key strategies to optimize development: “Reducing construction timelines from the current ~10 years to the global best of ~6 years, thereby mitigating historical cost overruns exceeding 2x are crucial for capital cost optimisation.” It also emphasized attracting global investment: “Attracting global investment through a 49% FDI allowance will augment capital inflows.” These measures aim to streamline project execution and enhance financial support for nuclear expansion.
SBICAPS recommended systemic reforms to facilitate progress, including a single-window clearance system, simplified land acquisition processes, a reduced exclusion zone radius around nuclear plants, and greater autonomy for the Atomic Energy Regulatory Board (AERB). These changes are intended to create a more efficient framework for project development and operation.
To address limited domestic uranium reserves, the report highlighted the importance of diversifying fuel sources through international agreements and advancing Stages 2 and 3 of India’s nuclear program. This approach will ensure a stable fuel supply to support the expanded capacity.
India has launched the Nuclear Energy Mission, allocating INR 200 billion for research, development, and the deployment of at least five Bharat Small Modular Reactors, as announced in the Union Budget. The SBICAPS report noted: “Addressing existing policy gaps is crucial to ensure that the private sector leads the development of 50% of the targeted 100 GW nuclear capacity by 2047.” It further stated: “Beyond project development, substantial opportunities exist for ecosystem participants, particularly reactor manufacturers, turbine and generator suppliers, precision control and equipment providers, and cooling system specialists.”
The expansion of nuclear energy is expected to create significant opportunities for industry stakeholders while contributing to India’s sustainable energy goals. By implementing streamlined processes, securing international partnerships, and fostering private sector involvement, India aims to build a robust nuclear energy ecosystem to meet its 2047 target.
