India's major energy companies are increasingly turning to nuclear power as a crucial component of the nation's clean energy strategy, aligning with the country's ambitious goals for reducing emissions and ensuring long-term energy security. This renewed interest is spurred by government initiatives to expand nuclear capacity and encourage private sector participation in the nuclear industry.

The Indian government has set an ambitious target of achieving 100 GW of nuclear power capacity by 2047, a significant increase from the current 8.18 GW. This expansion is essential for India to meet its commitment to generate 50% of its energy from non-fossil fuel sources by 2030 and achieve net-zero emissions by 2070. The government's strategy involves a multi-pronged approach, including the construction of new reactors, development of Bharat Small Reactors (BSRs) and Small Modular Reactors (SMRs), and fostering partnerships with the private sector.

Several Indian energy giants have already expressed keen interest in investing in nuclear projects. Tata Power, one of India's largest integrated power companies, has announced its intention to explore opportunities in setting up SMRs. The Naveen Jindal Group has established a new subsidiary, Jindal Nuclear Power Private Limited, with plans to build 18 GWe of nuclear capacity over the next two decades, with an expected investment of approximately $21 billion. Other companies like Reliance Industries, Adani Power, and Vedanta are also reportedly considering entering the nuclear energy sector.

The government is actively promoting private sector involvement by making amendments to existing legislation and offering financial incentives. The Union Budget 2025-26 outlines a significant push towards nuclear energy, with plans to encourage private entities to provide land, cooling water, and capital for nuclear projects. The Nuclear Power Corporation of India Limited (NPCIL) will handle the design, quality assurance, and operation and maintenance of these projects. This collaboration aims to leverage the expertise and resources of both the public and private sectors to accelerate the growth of nuclear power in India.

India is also focusing on developing indigenous nuclear technologies, particularly BSRs and SMRs. These reactors, with a capacity ranging from less than 30 MWe to 300+ MWe, offer a flexible and scalable solution for meeting the energy needs of industries and remote locations. The Bhabha Atomic Research Centre (BARC) is also developing SMRs for repurposing retiring coal-based power plants. Furthermore, the Department of Atomic Energy (DAE) 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.

To support the expansion of nuclear power, India is also taking steps to secure its uranium supply. The government is considering allowing private firms to mine, import, and process uranium, a move that could attract billions of dollars in investment and increase the contribution of nuclear power to 5% of the country's total power requirement. While the government intends to maintain control over reprocessing spent uranium fuel and managing plutonium waste, it is willing to create a regulatory framework that includes private players.

Larsen & Toubro (L&T), a major engineering company, is also actively seeking collaborations with global technology companies and NPCIL for nuclear energy projects. L&T is in discussions with companies operating in both the large reactor segment (1,000 MW and above) and the SMR space. The company is also exploring opportunities in nuclear services and fuel fabrication in international markets, recognizing the growing demand for these services as many nuclear power plants are aging.

India's commitment to expanding its nuclear power capacity is evident in the ambitious targets set by the government and the increasing interest from major energy companies. By promoting private sector participation, developing indigenous technologies, and securing uranium supplies, India is poised to make nuclear power a significant pillar of its clean energy transition. This strategic shift will not only help India achieve its climate goals but also ensure a reliable and sustainable energy future for the nation.