Ahmedabad: Government sources said that India may allow foreign companies to take up to 49% stake in their nuclear power plants, as New Delhi is planning to open its most protected area to help achieve the goals of carbon emission reduction.
The government has been considering changing its nuclear foreign investment structure since 2023. However, expanding atomic capacity has become an important requirement as India wants to replace carbon-intensive coal from clean sources of energy.
Investments in this sector are expected to speed up tariff dialogue with the US. In 2008, the civil nuclear deal with the US provides for a billions of dollars deal with US companies.
If the latest proposals are passed with plans to make the nuclear liability laws easier and allow domestic private players to enter the field, they can overcome the government’s target obstacles to increase the nuclear power capacity by 12 times by 2047 to 100 gigawates by 2047. Sources said that any foreign nuclear investment would require prior government approval rather than automatically approved.
Sources said that the necessary legal changes will soon be placed before the Union Cabinet.
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