**Tata Power Explores Small Modular Nuclear Reactors Following India’s Policy Shift**
Tata Power is keen on establishing small modular nuclear reactors, as stated by CEO Praveer Sinha on Tuesday. This announcement comes shortly after India revealed plans to open its tightly regulated nuclear sector to private investments. In the recent federal budget, Finance Minister Nirmala Sitharaman indicated that the government intends to amend crucial laws governing the industry.
As part of the Tata Group, which spans various sectors from salts to software, Tata Power is currently awaiting further information regarding liability, technology, foreign partnerships, and fuel sourcing, according to Sinha during a post-earnings investor call. He noted that the approval process for small nuclear plants is rigorous, typically taking around 24 months, with an additional 4 to 5 years required for construction.
Sinha remarked, “These projects are becoming increasingly common in various parts of the world. With the advent of new technologies, we should be able to implement them more swiftly in India.” Currently, India has approximately 8 gigawatts (GW) of nuclear capacity, with ambitions to expand this to 20 GW by 2032.
In its third-quarter earnings report, Tata Power’s profits fell short of analysts’ expectations due to weaker demand. However, Sinha highlighted signs of recovery in power demand, predicting that peak power demand in India could rise from last year’s 250 gigawatts to around 265 to 270 GW due to an “intense” summer. He added, “Given the power requirements, we anticipate that many imported coal-based plants will operate at full capacity.” Sinha also mentioned that Tata Power’s coal power plant in Mumbai, which was affected by a fire, is expected to resume operations within the next 2 to 3 days.
