Private Sector May Invest Rs 7.5 Lakh Crore in Nuclear Energy by 2047: AEC Chief

India could attract around Rs 7.5 lakh crore in private investment in its nuclear power sector, with private players expected to contribute 30 GW towards the country’s target of achieving 100 GW of nuclear capacity by 2047, Atomic Energy Commission Chairman Ajit Kumar Mohanty said.

India currently has around 9 GW of installed nuclear power capacity, operated by the Nuclear Power Corporation of India Ltd (NPCIL), which runs 24 reactors, Mohanty said in an interview with PTI.

“Five years from now, I expect a couple of private sector players to run reactors,” he said, adding that nuclear power projects cost approximately Rs 25 crore per MW. The SHANTI Act, enacted in December 2025, marks a significant policy shift by opening the sector to wider participation by public and private entities while retaining sovereign control over sensitive activities, he said.

Nuclear power projects generally take five to seven years to build. Private companies are evaluating reactor technologies, fuel supplies, land requirements and potential partnerships with NPCIL and foreign technology providers.

Another 17 reactors, with a combined capacity of around 13 GW, are at various stages of implementation, Mohanty said. India is also exploring small modular reactors (SMRs) to meet the reliable electricity requirements of energy-intensive industries such as steel and cement.

Beyond capacity expansion, the country is pursuing its three-stage nuclear programme to increase the use of domestic resources, particularly thorium. The programme involves uranium-fuelled reactors, fast breeder reactors and the eventual utilisation of thorium as nuclear fuel.

India possesses substantial thorium resources in monazite-bearing beach sands, particularly in coastal states such as Odisha and Andhra Pradesh, he said. The Prototype Fast Breeder Reactor at Kalpakkam, Tamil Nadu, attained first criticality in April 2026, marking progress in the second stage of the programme.

India has signed inter-governmental agreements on peaceful civil nuclear cooperation with 18 countries, Mohanty added, highlighting opportunities for international collaboration as the country expands its nuclear energy capacity.