Tata Power keen on building small nuclear reactors as India opens up sector, CEO says
Tata Power is interested in setting up small modular nuclear reactors, CEO Praveer Sinha said on Tuesday, days after the country said it will open up the much-guarded sector to private investments.
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In the federal budget on Saturday, Finance Minister Nirmala Sitharaman said the government will amend key laws that govern the sector.
Tata Power, a part of the salts-to-software conglomerate Tata Group, is waiting for more details on liability, technology, foreign partnerships and on fuel sourcing, its CEO said in a post earnings investor call.
Small nuclear plants need stringent approvals with the process taking about 24 months and the construction another 4-to-5 years, Sinha said.
«These projects are today becoming very common in various parts of the world. With many of the new technologies coming in, we should be in a position to implement them much faster in the country,» Sinha said.
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