2024-09-26 15:34:09
New Delhi : When the Modi government came to power for the third time, everyone’s eyes were on the budget. People were hoping that the government would make some big announcements in the budget this time. Nirmala Sitharaman did not disappoint people on the path of the future. The Finance Minister emphasized on nuclear energy in Budget 2024. Nuclear energy is being considered important for the future as a component of energy. It will become a better option of energy in the cement and steel industry in the country.
40-50 modular reactors will be ready
The Indian government had emphasized on partnering with the private sector for the development of small nuclear reactors. Now this announcement is moving towards taking shape. The government is working on building 50 small nuclear reactors with the participation of the private sector. The government aims to install 40-50 small modular nuclear reactors, which will replace most of the captive thermal power plants. The reason for this is that its target is to achieve the goal of net-zero emissions by 2070. In such a situation, this step is going to do wonders in the direction of clean energy.
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What are the industry people saying?
Amit Sharma, managing director and chief executive officer of Tata Consulting Engineers, has already said that we will take the old design of the pressurised heavy water reactor (PHWR), retrofit and redesign it to be modular, scalable and safe to meet post-Fukushima standards. In the case of small modular reactors (SMRs), the plan is to build 40-50 reactors in less than seven to eight years, Sharma said. However, he added that this requires a high level of standardisation, safety and modularity.
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How will you get benefit?
India, with an aim to expand its nuclear power sector in its quest for clean energy to achieve net-zero emissions by 2070, plans to develop indigenous versions of small reactors, backed by a double dose of government funding and private participation. The official adoption of the new technology will create a positive environment for collaboration between Indian public or private sector entities and the many foreign companies eyeing the Indian market. The indigenous versions proposed in the budget were labelled as ‘Bharat Small Reactor’ and ‘Bharat Small Modular Reactor’.
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What is Small Modular Reactor?
Small modular reactors (SMRs) are advanced nuclear reactors with power capacities of up to 300 MW(e) per unit. This is about one-third the generation capacity of conventional nuclear power reactors. SMRs can produce large amounts of low-carbon electricity.
- Small – Physically a fraction of the size of a conventional nuclear power reactor.
- modular – Makes it possible for systems and components to be assembled at the factory and transported to a location as one unit for installation.
- Reactor – Using nuclear fission to produce heat to produce energy.