India Urged to Adjust Green Finance Rules to Support Nuclear Power Expansion

Indian officials and industry insiders said recently that if India is to achieve its goal of increasing nuclear power installed capacity to 100 gigawatts by 2047, it needs to revisit existing green finance rules and accelerate the cultivation of professional talent in the nuclear energy sector.

Abhay Karandikar, a member of India's NITI Aayog, stated at the India Power Expo held in New Delhi that India's sovereign green bond framework, green deposits, and related financing rules currently do not cover nuclear energy investments and should be reviewed and adjusted. He noted that some global financial institutions, including the World Bank, have begun reassessing relevant arrangements to support investment in nuclear energy projects.

India's current nuclear power installed capacity stands at approximately 8.8 gigawatts. According to plans, the country hopes to increase this scale to 100 gigawatts by 2047. To achieve this goal, India's nuclear energy industry is expected to require nearly $210 billion in investment. Last year, India opened its long-strictly-regulated nuclear energy sector to private enterprises to attract foreign technology and capital.

In addition to financing rules, insufficient talent reserves are also considered a major constraint on India's nuclear power expansion. Industry insiders pointed out that India's clean energy sector is already experiencing a talent shortage, and the nuclear energy field faces even more prominent issues in professional education and training.

Kalirajan S, Managing Director of EDF Nuclear Projects India Private Limited, stated that from primary and secondary schools to top universities in India, nuclear energy course offerings remain insufficient except at a few leading institutions. He said EDF is carrying out certification programs with Indian suppliers and plans to further expand related efforts to promote the development of the local nuclear supply chain.

Karandikar stated that NITI Aayog has established a dedicated committee to study how India can expand nuclear energy professional capabilities at different levels, including technical personnel training, engineering capacity building, and research and development.