Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act

• Opens up the Nuclear Value Chain - Power Gen, Equipment Mfg, Fuel Cycle Services - to private players
• Eased up liability provisions which had deterred foreign suppliers and investors - If any nuclear accident happened due to faulty equipment/services, then supplier was liable for all damages.
• SHANTI RULES TO BE RELEASED BY APRIL - MoS Jitendra Singh
  • US was keen to discuss the act

Current Capacity in India = 8.2GW

Targeted Capacity = 100GW (2047)

Nuclear Power

• Plants operate in 40+ countries
  • 70% in advanced economies
  • Supplying 9% of the world’s electricity
  • 65% of France’s power comes from Nuclear, Followed by 50% in Ukraine, 35% in Switzerland, 18% in US and Russia
  • For china - 5% only and India- 3% only. But China has half of the world’s nuclear projects under construction, its source will be 20% by 2030.
• 2nd-largest low emissions power source after Hydropower
• More stable and reliable than Solar and Wind

Historically, State-dominated globally

• Global avg construction time = 7 years
• This makes financing unattractive
• Moreover, cost overruns, construction delays, complex designs, political and regulatory uncertainty
• Safety concerns and Waste management
• Anchored by Nuclear Power Corporation of India Ltd (NPCIL)