New Delhi: The government will be notifying the rules for the newly adopted Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act within the next three to four months, the Union Minister of State for Science and Technology and Atomic Energy, Jitendra Singh, said on Tuesday.
He added that the Act has received an overwhelming response from the private sector in India and internationally, with many big players already showing interest in investing in India’s nuclear energy sector.
“We will be notifying the rules soon—in about three to four months,” Singh said, adding, “Basically, we are currently arranging and decorating our shop. Once we open it, we will start inviting customers.”
The SHANTI Act, which came into effect in December last year, is the most sweeping reform in the nuclear energy sector, replacing two existing laws — the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010.
One of the most significant introductions in this Act was allowing private players to enter the operations side of the nuclear power sector, which has always been tightly guarded by the government. Certain provisions in the old laws, such as the nuclear operators’ right to recourse, became a hurdle for private companies taking up projects in the nuclear energy sector in India.
These new rules have been introduced to ensure that India achieves 100 GW of nuclear capacity by 2047, from its current capacity of only about 8.8 GW.
Also read: Budget gives nuclear energy sector another fillip soon after SHANTI paved way for private players
Opportunity for Indian companies
With the opening up of doors to industry partners, only companies registered in India will be allowed to apply for a licence to build, own, operate or decommission a nuclear power plant or reactor in the country.
Companies incorporated in India and interested in dipping their toes in the sector will also be given the opportunity to partner with the government to fabricate nuclear fuel — conversion, refining, and enrichment of Uranium-235 — while also transporting and storing nuclear or spent fuel.
However, restrictions are likely to continue in the areas of research, development, and innovation.
(Edited by Aamaan Alam Khan)