Reliance, Tata Power, Adani Eye Nuclear Boom by 2047 Despite Policy Gaps

India plans to achieve 100 GW of nuclear power capacity by 2047  which has started attracting interest from the private sector but the existing policy gaps need to be addressed quickly to ensure that it contributes to at least 50% of this target, according to a report by SBI Capital Market.

The report, as cited by ANI, also mentioned that the opportunity is not limited to just project development. A wide range of companies can benefit across the nuclear power ecosystem.

"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," the report said.

This opportunity includes reactor manufacturers, turbine and generator suppliers, precision control and equipment providers, and specialists in cooling systems. While the potential is clear, what remains uncertain is whether the right policy "triggers" will be activated to drive the sector forward.

The government has taken an important step by launching the BSR (Bharatiya Saksham Reactor) programme. This allows the private sector to develop Pressurised Heavy Water Reactors (PHWRs) for captive use.

The report added that the program comes with strict entry criteria to ensure that only serious and capable players participate, which also helps reduce risks related to implementation and funding. The captive use model is another positive aspect, as it reduces demand uncertainty.

Despite these encouraging steps, more needs to be done to make the BSR program fully effective. Currently, the approval process is too long and follows a sequential path, slowing down progress. In addition, the risk burden on private companies remains high at various stages of development.

Private Companies' Nuclear Push

Government is planning to allow foreign companies to take up to a 49% stake in Indian nuclear plants as it is working on amending the Atomic Energy Act, which will permit the private companies to build, own and operate and fuel nuclear facilities, reported Reuters.

This move comes at a time when the atomic energy department has said foreign nuclear sector companies, including Westinghouse Electric, GE-Hitachi, Electricite de France and Rosatom, have shown interest in India’s nuclear mission that allows public private partnership, according to Reuters. Indian companies like Reliance Industries, Tata Power, Adani Power and Vedanta have reportedly expressed interest in investing in India’s nuclear sector.