Nuclear’s growing role in the energy mix could ensure future energy demand is met

The rapid resurgence of nuclear energy in the world energy equation was underlined during a discussion that highlighted India as a future leader in the sector. The Leadership Panel, “Charting the world nuclear revival: from transformative sector reinvigoration to advanced technology-driven reinvention”, heard that India should reach its goal of having 100 GW of nuclear power capacity by 2047, by when it also aims to achieve energy self-reliance.

Dr. Sama Bilbao y León, Director General, World Nuclear Association (WNA), highlighted the December signing of the SHANTI (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India) Bill as historic and a “watershed moment for nuclear opportunities in India”.

It will modernise the nuclear sector, allowing private participation in plant operations, and offers benefits in terms of power, industry and jobs, the Resilience Stage audience heard.

The World Nuclear Outlook, launched at Davos, revealed that the majority of the nuclear “fleet” currently delivers 400 GW of energy capacity, and should reach 1,400 GW by 2050 when new capacity arrives. “India is going to be one of the countries where this growth is going to be enormous,” said Dr. Sama. “We have said triple nuclear at a global level, but in India we are looking at ten times the existing capacity, so the ambition is even bigger.” While there was talk of a nuclear revival, the WNA boss said it had never left. “Nuclear has always been here; nuclear energy is, and has been for more than five decades, 10% or more of global electricity production.

“And at this point in history, where we have a complex geopolitical situation, every country in the world is looking at energy security and energy independence, and nuclear energy plays a very important role.”

She also highlighted cost-effective sustainability benefits and added: “Competitiveness, socio-economic development, prosperity and quality of life require affordable 24/7 clean energy, and this is where many countries are looking at nuclear.”

To embrace the immense opportunities, however, requires stable regulatory frameworks, clear policy visions, and private sector investor confidence. Neeraj Agrawal, President of Nuclear Power, JSW Energy Limited, explained how nuclear fits India’s goals to become a developed country by 2047, and carbon-free by 2070.

“We are capable of making power plants, we have the technology, but we are going a bit slow now,” he said. “With SHANTI and private sector participation, management skills will come, funds will come, and definitely we can accelerate and have nuclear power.”

Agrawal said the regulator, vendors and engineering were ready, and added: “We are eagerly and very rigorously following up the nuclear roadmap.”

One of those partners is Russia. Egor Kvyatkovskiy, Director General of Rosatom International Network, confirmed partnership and cooperation between the countries started many years ago. He also spoke of potential in-country benefits from the nuclear business as stations are built and facilitated long term, while others, including Agrawal and Dr. Sama, mentioned the need for an “entire ecosystem of energy professionals”; human capital from welders and nuclear engineers to project managers.

“We try to localise as much as possible, to use local producers, local consumers and local industry, and involve them in our chain. It’s a win-win situation for all,” Kvyatkovskiy said.

He also stressed, however, that no one country or company can realise the nuclear goal India has, suggesting it could take multi-collaboration among vendors to secure the best mix of technology and reactors. “It’s more than a marriage,” he added.

As for incentivising and ensuring favourable policies for companies to get involved, Dr. Sama praised India’s government. “For a long time, the Atomic Energy Act and liability laws in India were a big hurdle for other players.” “So SHANTI is a very big, positive signal to all kinds of private players in India and abroad to come to India. But the trick now is how this is going to be implemented, so the details are going to be very important. The Indian government is going in a fabulous direction.”