India Inc India Inc: Wednesday, 14 March 2018 05:10

France, India to pursue nuke power project

French President Emmanuel Macron and Indian Prime Minister Narendra Modi urged Electricite de France SA (EDF) and India’s monopoly atomic energy producer, Nuclear Power Corp., to accelerate discussions on a contract and start work at the site in Jaitapur, Maharashtra by December.

A joint statement issued Saturday by the governments during Macron’s visit to India said: “Once installed, the Jaitapur project will be the largest nuclear power plant in the world, with a total capacity of 9.6GW.”

In the statement, the two leaders “welcomed the understanding shared by the two parties on the enforcement of India’s rules and regulations on Civil Liability for Nuclear Damages applicable to the Jaitapur project.”

French state-run reactor maker Areva SA signed an initial agreement in 2009 with Nuclear Power for the Jaitapur project following a civil nuclear cooperation accord between the governments. After Areva’s restructuring, EDF in 2016 signed an initial pact with the Indian atomic energy producer to supply six reactors at Jaitapur.

EDF will undertake all the studies and component purchases for the first two reactors. For the remaining four, some of those activities could be assigned to local companies.

India’s nuclear power capacity is about 6.8 GW, barely 2 percent of the country’s total generation capacity.

India Investment Journal’ has in-depth coverage on related topics.

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