Naveen Jindal to invest $21 b for nuclear power generation

Jindal Nuclear Power Private Ltd, part of the Naveen Jindal Group and a wholly-owned subsidiary of Jindal Renewables, will build 18 GWe of nuclear power generation capacity in the country over next two decades. Expected investments are to the tune of ₹ 180,000 crore ($21 billion) over 20 years, company sources in the know said. 

This strategic initiative aligns with the Government of India’s Budget announcement, which targets 100GWe of nuclear power capacity by 2047, supporting sustainable economic growth, led by low emission industrialisation while significantly reducing the nation’s CO2 footprint, Jindal Renewables said in a statement.

Jindal Nuclear proposes to build, own and operate state-of-the-art nuclear power plants, leveraging advanced technologies to ensure world-class safety, operating efficiency, and environmental sustainability. 

Low-carbon economy

The company will be the first in the private sector to express interest towards investing in nuclear power to accelerate the country’s transition to a low-carbon economy, providing reliable, round-the-clock CO2 free energy.

“The Indian government’s vision to setup 100GWe nuclear energy by 2047 is exciting and visionary. At Jindal Nuclear we are bullish on nuclear energy and believe the private sector must play its role to realise this vision of 100GWe by 2047. Our 18GW nuclear development plan reflects our commitment to supporting India’s CO2 feenergy vision,” SK Sharma, Sr Advisor at Jindal Nuclear and former Chairman of NPCIL, said. 

The 18GW nuclear energy programme will be developed over the next two decades, incorporating a diverse mix of advanced technologies, including Bharat Small Reactors (BSRs), Small Modular Reactors (SMRs), and Gen-IV Reactors, as they reach deployment readiness. 

The aim

The company aims to collaborate with global technology leaders, fostering innovation while maintaining world-class safety standards and operational excellence, the statement further added. 

The setting up of nuclear power projects will help create thousands of jobs across construction, operations, and ancillary sectors driving significant contributions to India’s economic growth.