Investment panel backs nuclear deal

New Delhi, July 4: The Investment Commission headed by Ratan Tata has extended strong support to the Indo-US civilian nuclear deal, saying it is critical to ensure that nuclear power has a larger share in the country’s energy mix. The commission has made a strong pitch for allowing private sector investment in nuclear power generation.

In a report on the thrust areas for the country’s development, which is likely to be discussed by Prime Minister Manmohan Singh tomorrow, the panel observed, “The Investment Commission strongly supports the proposed Civil Nuclear Agreement with the US as being critical for ensuring a larger share of nuclear power in our mix.” The Commission argued for allowing private sector investment in nuclear power “with appropriate safeguards once the Civilian Nuclear Agreement with the US is concluded”.

“The cost of carbon emission and stress on environment-friendly power generation will increase demands for green and renewable fuels to be a larger part of our energy mix. For India, the key fuels in this category for the medium term will be nuclear, wind and hydel,” the report observed.

The commission cited that neighbouring China has planned to increase its nuclear portfolio from 2.3 per cent of its generation today to 40 GWe by 2020 (of total 1000 GWe then). In May 2007, the National Development and Reform Commission of China had announced that its target for nuclear generation capacity in 2030 was 160 GWe.

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