“Atoms for net-zero: A 100 GW bet on India’s nuclear expansion ambitions through private-sector participation” is a strategic roadmap for scaling India’s nuclear power from today’s base to 22 GW by 2032 and 100 GW by 2047, positioning nuclear as firm, reliable, low-carbon electricity to strengthen energy security, accelerate industrial decarbonisation, and support India’s net-zero 2070 pathway.
The report argues that this transition is becoming feasible because policy intent is converging with market demand, particularly through the Nuclear Energy Mission and the planned development of indigenous Small Modular Reactors (SMRs), alongside proven reactor platforms such as PHWRs and the emerging Bharat Small Reactors (BSRs) for industrial and captive applications. Central to the report is the case for enabling governance architecture, with the SHANTI Act 2025 described as a pivotal reform that modernises the legal framework, opens pathways for private-sector participation in nuclear plant development and operations under strict oversight, and clarifies institutional roles across licensing, safety authorisations, and sector stewardship.
It highlights the need for predictable, time-bound regulatory processes, investor-grade clarity on responsibilities, and a credible liability and insurance framework that supports bankability while keeping safety and environmental protection at the core. From a market perspective, the report goes beyond grid electricity to emphasise high-value sector coupling opportunities where nuclear can be uniquely competitive, including industrial heat, clean hydrogen (often referred to as pink hydrogen), desalination, refining and petrochemicals, remote and island power, and the fast-growing demand from AI and data centres that require 24/7, high-reliability clean power.
The report also addresses the practicalities of delivery at scale, mapping India’s strengths in a largely indigenised EPC ecosystem for conventional nuclear build, while identifying bottlenecks that must be resolved for next-generation deployments such as SMRs and advanced designs. Key readiness topics include nuclear-grade manufacturing capacity, vendor qualification to international standards, modern digital instrumentation and control systems, and fuel-cycle constraints relevant to advanced reactors, including access to HALEU and associated supply chain strategies. On financing, it makes a clear argument that the cost of capital and revenue certainty will be decisive, recommending bankable offtake structures such as long-term Power Purchase Agreements (PPAs), risk-sharing arrangements for first-of-a-kind (FOAK) projects, and a place for nuclear within mainstream clean finance mechanisms, including green bonds, blended finance, and export credit style support to de-risk early projects and attract institutional investors. Public trust is treated as a programme-critical requirement, with strong emphasis on transparent engagement and a predictable back-end regime for spent fuel and radioactive waste management, including clear accountabilities, robust tracking and inventory systems, and a national-level approach that can scale as capacity expands.
