India eyeing $1.2bn nuclear deal with Russia – report

New Delhi is working out a deal with Moscow for the supply of nuclear fuel and core components for the upcoming units of the Kudankulam Nuclear Power Plant, the Times of India reported on Tuesday, citing unnamed sources. The deal is estimated at 105 billion rupees ($1.2 billion), according to the newspaper. 

The Kudankulam NPP, which is being built with Russia’s assistance, currently has two operational units, each with a capacity of 1,000 MW, and is the main power provider for the southern Indian state of Tamil Nadu and other states. 

The plant’s first two units entered service in 2013 and 2016. Units 3 and 4 are currently under construction. Agreements for the final two units, 5 and 6, were signed last December when Indian Foreign Minister Subrahmanyam Jaishankar visited Moscow. Once completed, the plant will be the largest nuclear power plant in India with a capacity of 6,000 MW.

According to the deal for nuclear fuel supplies, TVEL, the fuel company of Russia’s state-run Rosatom, will be supplying fuel, control rods, and a fuel assembly inspection tool for units 3 and 4 of the plant from 2025 to 2033. 

India is also considering forming a joint venture with Rosatom for manufacturing nuclear fuel in the country to boost its nuclear capability. 

The two countries have been working together in the nuclear industry for several decades. A joint statement issued by Moscow and New Delhi during the visit of Indian Prime Minister Narendra Modi to the Russian capital in July expressed expanding cooperation with regard to nuclear energy.

Ahead of Modi’s visit to Moscow, Bloomberg reported, citing senior officials, that India could strike a major deal that would involve Russia providing uranium on a long-term basis. 

While Indian leader was in Moscow, Rosatom announced that the two countries are in talks to build six new Russian-designed high-capacity nuclear power units at a site in India yet to be determined.

Russia is also offering India new technology – small modular reactors with a generating capacity of around 100-200MW. Rosatom CEO Aleksey Likhachev presented the technology to Modi and Russian President Vladimir Putin during their visit to the Atom Pavilion in Moscow. According to Likhachev, Russia’s offer for India includes a high level of localization and the possibility of transferring of the construction part of the project to New Delhi.

At present, India’s nuclear generating capacity is around 7.5GW, and New Delhi is planning to increase it by 70% in the next five years – to 13GW by 2029.

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