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India could exceed its target of expanding nuclear power capacity from about 9 GW currently to 100 GW by 2047 if private-sector participation is effectively leveraged, Sunita Kumar, President and CEO, Nuclear Business, Bajaj Energy, said, stressing that faster project execution, financing and technology localisation will be critical to achieving the ambitious goal.
Speaking exclusively with ANI on the sidelines of the iBRICS Summit 2026, Kumar said Bajaj Energy, which currently has around 3,000 MW of combined thermal power and cogeneration capacity, wants to play a role in India's nuclear expansion as the country works towards its 2047 energy goals. "We want to be pioneers here in India's nuclear movement," Kumar said, referring to the company's plans to participate in the sector. The government has set a target of increasing nuclear capacity to 100 GW from around 9 GW, Kumar said. Nuclear Power Corporation of India Ltd (NPCIL) is expected to account for more than 50 GW, while NTPC has publicly stated plans for 30 GW. Private-sector players have announced more than 20 GW of projects, she said. "We stand in a place, if we do it right, we can actually exceed the target rather than underperform," Kumar said, adding that private companies could help develop new approaches to expedite construction while maintaining safety standards. Kumar said the government's move under the SHANTI Act to allow private-sector players to procure uranium could help companies diversify fuel supplies and strengthen energy security. She said Bajaj Energy was currently engaged in discussions around securing supplies through international partnerships, including with Australia. On nuclear technology, Kumar noted that India operates different reactor technologies, including boiling water reactors, pressurised heavy water reactors and Russian VVER reactors. She said discussions with countries such as France were also focused on making new technologies economically viable for India. "India is a very price sensitive market," she said, stressing the need to ensure nuclear technology is delivered at competitive costs. Kumar also highlighted the importance of financing and BRICS cooperation in enabling nuclear projects, particularly for technologies from countries where the cost of capital is higher. She said the private sector would need a balanced sharing of risks with the government, particularly for initial projects, while issues such as foreign direct investment, currency risks, taxation and procurement would need to be addressed. "Nuclear on par with or even greater in terms of realisation than solar or other renewables" should be considered, Kumar said, given its baseload capability and reduced dependence on storage. (ANI)
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