Welcoming India's ratification of the Convention on Supplementary Compensation for nuclear damage, the US today hoped that the move will soon see deals for American companies to build new reactors and cheap energy to millions of Indians.
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India's membership in the CSC is a crucial step toward facilitating the growth of safe, civilian nuclear energy in the world's second most populous country, said Ernest Moniz, the US Energy Secretary.In addition, India's membership is a major step towards the global liability regime called for by the International Atomic Energy Agency's Nuclear Safety Action Plan to provide prompt compensation in the event of an accident and to establish a legal framework for commercial arrangements, he said.
"I welcome India to the CSC and look forward to their deployment of civil nuclear energy technologies to help provide reliable, low-cost power to millions of Indians," Moniz said in a statement.
These efforts will help spur a low-carbon economy to combat climate change.
"Additionally, we are eager to work with India, and all CSC member countries, to facilitate the use of advanced nuclear technologies developed in the United States," Moniz said.
According to a senior administration official CSC membership will facilitate international cooperation in expanding the use of nuclear power in India, thereby contributing to India's energy security and its efforts to address climate change.
"The United States is hopeful that we will soon see deals for US companies to build new reactors, which will mean more reliable electricity for Indians,"the senior State Department official told PTI.
Following India's ratification of CSC, a leading American nuclear reactor vendor is planning to submit its proposal by the end of February to Nuclear Power Corporation of India (NPCIL) with an objective of having some kind of agreement with that can be signed at the time of NSS in DC on April 1.
"This is a big accomplishment. This was the pledge that India made. This important step would facilitate the commercial suppliers to close their nuclear deals with India that would end up in generating at least 12,000 MW if both the US companies go ahead," Vijay Sazawal, an expert on US India nuclear agreement, told PTI.
However, at this time only one vendor - Westing House -- is fully engaged, with NPCIL.
"The contract that NPCIL and the American nuclear vendor are negotiating has many parts. They have to agree on who would be responsible for doing what work, who would provide financing and when, the contract terms and conditions, which would include the supplier liability as per the Indian nuclear liability law," Sazawal said.
