For anyone who has had to endure the sorry plight of roughing it out under the stifling heat of the Indian summer with a solitary newspaper for cool relief, the whole debate on the future of nuclear power in India would be a no brainer. But given the highly impassioned views this particular subject usually evokes, taking a look at the existing scenario would be a good place to start.
Nuclear power is today the fourth-largest source of electricity in India after thermal, hydro and renewable sources of electricity. As of 2010, India has 20 nuclear reactors in operation in six power plants, generating 4,560 MW while 5 other plants are under construction and are expected to generate an additional 2,720 MW. With rapid expansion plans underfoot, the goal is to increase nuclear power output to 64,000 MW by 2032. With the nuclear deal signed in 2008 opening up doors that had remained closed for more than three decades, gaining access to the all important nuclear fuel on a consistent basis is finally within reach. The increasing focus on nuclear energy makes sense for a number of other reasons as well. Clearly, coal, currently accounting for 66% of our electricity generation can’t carry on as being our fuel of choice, given the increasing emphasis on environmental sustainability across the world, with growing pressure on India to adhere to global norms on climate change. With recent events in the Middle East once again pushing the price of oil through the roof, the viability of relying on our Arab friends is fast turning into a big question mark. To be sure, we have already begun looking elsewhere, but a look at the alternatives being considered gives you that sinking feeling, one where the solution might just prove to be worse than the problem. While we all know that those Taliban guys are just a bunch of good hearted souls who like to chop off a head or two for leisure, putting at stake a $7.6 billion dollar pipeline intended to pass through the heart of Taliban territory ,based solely on their goodwill might not be the best of ideas. Given these ground realities, the case for nuclear energy would appear to be as sound as it can get and in anticipation of the opportunities that lie ahead, a number of multi-national firms have already jumped on to the atomic bandwagon. GE, which makes goods ranging from jet engines to medical diagnostic equipment, is keen to tap a potential $150 billion nuclear power market in India. GE Hitachi Nuclear Energy, the global nuclear alliance created by GE and Hitachi has also signed an agreement with engineering and construction major Larsen & Toubro Ltd (L&T) to develop an advanced nuclear power plant in India based on Advanced Boiling Water Reactor (ABWR). At a broader level, GE Hitachi is building its local supply chain in India and exploring new business opportunities for civilian Indian nuclear power, including plant services and providing fuel for existing and new plants. And it’s not just the Americans. Companies such as Areva , one of France's main nuclear power companies will be building two European pressurized reactors of 1,650 megawatts each at Jaitapur in the western Indian state of Maharashtra, while the Russians can also hope to cash in on the enormous goodwill they enjoy on account of being the only reliable suppliers of fuel in the years when we enjoyed the unenviable status of nuclear pariahs.
Irrespective of the perceived benefits, however, one can’t for a moment downplay the importance of security measures when it comes to nuclear power plants. Sacrificing environmental concerns at the altar of profitability has never made for sound business sense, and all corporate players eagerly eying the Indian market would do well to remember that-as the tragic episode in Japan has shown, even a single accident can put a big question mark over the entire industry.