Naveen Jindal Group forays into nuclear energy with a new company

"This strategic initiative aligns with the Government of India's Union Budget 2025 announcement, which targets 100 GW of nuclear power capacity by 2047'' the company said

The Naveen Jindal Group of companies on Friday announced its foray into nuclear energy with the establishment of a new company Jindal Nuclear Power Private Limited, which aims to contribute 18 Gigawatts (Gw) over the next two decades to India’s ambitious target of 100Gw nuclear power capacity by 2047.

 

The new company, which will be a wholly-owned subsidiary of Jindal Renewables, will build, own, and operate state-of-the-art nuclear power plants, leveraging advanced technologies to ensure world-class safety, operating efficiency, and environmental sustainability. 

 

"This strategic initiative aligns with the Government of India’s Union Budget 2025 announcement, which targets 100GW of nuclear power capacity by 2047, supporting sustainable economic growth led by low emission industrialisation while significantly reducing the nation’s CO2 footprint," the company said in a statement.

 

"Jindal Nuclear is the first in the private sector to express interest in investing in nuclear power to accelerate India’s transition to a low-carbon economy, providing reliable, round-the-clock CO2-free energy," it said. The 18Gw nuclear energy programme will be developed over the next two decades, incorporating a diverse mix of advanced technologies, including Bharat Small Reactors (BSRs), Small Modular Reactors (SMRs), and Gen-IV reactors, as they reach deployment readiness, it said.

 

“The Indian government’s vision to set up 100Gw nuclear energy by 2047 is exciting and visionary. At Jindal Nuclear, we are very bullish on nuclear energy and believe the private sector must play its role to realise this vision of 100GWe by 2047. Our 18Gw nuclear development plan reflects our commitment to supporting India’s CO2-free energy vision,” said S K Sharma, senior Advisor at Jindal Nuclear and former Chairman of NPCIL.

 

India's nuclear energy sector is not open for private investment yet. Recently, for the first time, the state-owned Nuclear Power Corporation of India Ltd (NPCIL) issued a public notice, inviting interest from the private sector to set up BSRs which are small-size nuclear reactors up to 220 megawatt (Mw) of capacity. In her Union Budget speech last week, Finance Minister Nirmala Sitharaman announced opening doors for the private sector in nuclear energy.