Page 63 - Policy Economic Report_Feb'25
P. 63

POLICY AND ECONOMIC REPORT
               OIL & GAS MARKET

               Bharat Small Reactors

               The government is actively expanding its nuclear energy sector by developing Bharat Small Reactors
               (BSRs) and exploring partnerships with the private sector. BSRs are 220 MW Pressurized Heavy Water
               Reactors (PHWRs) with a proven safety and performance record. These reactors are being upgraded to
               reduce land requirements, making them suitable for deployment near industries such as steel, aluminium,
               and metals, serving as captive power plants to aid in decarbonization efforts.

               The plan involves private entities providing land, cooling water, and capital, while the Nuclear Power
               Corporation of India Limited (NPCIL) handles design, quality assurance, and operation and maintenance,
               all within the existing legal framework. This initiative aligns with India's commitment to achieving 500
               GW of non-fossil fuel-based energy generation by 2030 and meeting 50% of its energy requirements
               from renewable energy by 2030, as pledged at the COP26 Summit in Glasgow in 2021.

               In addition to BSRs, the Bhabha Atomic Research Centre (BARC) is developing Small Modular Reactors
               (SMRs) for repurposing retiring coal-based power plants and meeting power needs in remote locations.
               The Department of Atomic Energy (DAE) also plans to introduce new nuclear reactors, including high-
               temperature gas-cooled reactors for hydrogen co-generation and molten salt reactors aimed at utilizing
               India's abundant thorium resources.

               This strategic move signifies India's dedication to reducing carbon emissions and enhancing its civil
               nuclear energy program, with private sector participation playing a crucial role within the bounds of Indian
               laws and regulations.

               Bharat Small Modular Reactors

               India is actively exploring Small Modular Reactors (SMRs) as a crucial part of its energy transition strategy,
               aiming to achieve net-zero emissions while ensuring energy security. SMRs, are advanced nuclear reactors
               with a power generation capacity ranging from less than 30 MWe to 300+ MWe, provide a flexible,
               scalable, and cost-effective alternative to conventional large nuclear reactors. Given India's growing
               energy demands and the need for reliable, low-carbon power, SMRs can play a transformative role in
               complementing renewable energy sources and stabilizing the grid. Their modular design allows
               for factory-based manufacturing, reducing construction timelines and costs, making them suitable for
               both on-grid and off-grid applications, including deployment in remote locations.

               India’s expertise in Pressurized Heavy Water Reactors (PHWRs) provides a strong foundation for the
               development and deployment of indigenous SMR designs. By integrating SMRs into its energy mix, India
               can address land constraints, reduce dependence on fossil fuels, and enhance its ability to meet
               international climate commitments under the Paris Agreement (2015) which India ratified in October
               2016.

               Government Initiatives for Enhancing India’s Nuclear Capacity

               India is actively enhancing its nuclear power capacity to meet growing energy demands and achieve
               environmental goals. The government has initiated steps to increase nuclear power capacity from the

February 2025                              Page | 62
   58   59   60   61   62   63   64   65