Engineering major Larsen & Toubro (L&T) and Canadian government-owned Atomic Energy of Canada Limited (AECL) have signed a memorandum of understanding (MoU) for setting up Canada’s ACR 1000 nuclear reactors in India and exploring global opportunities in the field of nuclear power.
The deal is subject to a nuclear co-operation agreement between India and Canada but assumes significance as India is planning to source nuclear reactors from Canada.
“The Indian officials and ministers have assured of India’s plan to increase its nuclear power capacity to about 63,000 Mw by 2032,” said Stockwell B Day, minister of international trade of Canada.
Two days ago, L&T had entered into a similar deal with Toshiba Westinghouse of the US. India is planning to source nuclear reactors with a combined capacity of 10,000 Mw from US-based Westinghouse and GE Hitachi.
“L&T has great fabrication skills and our partnership will offer synergy in tapping the global markets,” said Hugh MacDiarmid, president and chief executive of ARCL. He said India’s indigeneously-developed reactors and Canada’s pressurised heavy water reactors (PHWRs) had a lot of similarities and the Canadian company could provide cost-competitive and safe reactors solutions to India.
Nuclear Power Corporation of India (NPCIL), mandated to set up civil nuclear reactors in India, is in discussions with Westinghouse, GE Hitachi, Areva and Rostam to set up 20-30 light water reactors in India with a capacity of 1,000 Mw and above.
L&T and AECL agreed to begin discussions to develop nuclear power plants in India on erection, procurement and contract (EPC) basis, said a press release.
AECL operates about 22 reactors in Canada and meets 20 per cent of the country’s power requirement, according to MacDiarmid.
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That's a 3% growth from the previous quarter