Nuclear Power Market in India: Status and Outlook

Transcript:Nuclear Power Market in India: Status and Outlook:
Nuclear Power Market in India: Status and Outlook Vijay K. Sazawal, Ph.D. July 21, 2015 Disclaimer: Opinions expressed by the author are solely attributable to him and not to any affiliated company Presentation Segments Past Present Future Bottom Line Past India had the most advanced nuclear program in the entire Asia until 1960’s 1954: Organized a global meeting in New Delhi on nuclear power for peaceful purposes to announce its 3-stage nuclear program 1955: India chaired the Geneva Conference which was a prelude to the formation of the IAEA 1955: Designed the first industrial scale 1 MW reactor that began operating in 1956 using enriched uranium and technical support provided by UKAEA 1955: The U.S. Joint Committee on Atomic Energy visited India and offered Heavy Water to the Indian nuclear program 1960: CIRUS, a 40 MW reactor, attains criticality (Canada-India-US partnership) 1963: India signs with GE and Bechtel for the first two LWR’s in Asia 1969: TAPS 1 & 2 (both BWR’s) begin operations Present - 1 India has the largest electric power grid in any developing nation It has 14th largest power system in the world IMF says in 2015-2016, Indian growth rate will be 7.5%, and its industrial revolution has hardly begun Indian population will exceed China’s in the next decade India is among the top greenhouse gas polluters in the world 2020: China (24%), U.S. (13%), EU (8%), and India (7%) India is making public commitments to change its energy mix by increasing dependence on clean energy IAEA, EIA, WNA, Ux Consulting … Global growth of nuclear power will be driven by non-OECD countries 2/3 of all new nuclear builds will be in China, Russia, India and South Korea McKinsey India Report 2014 “India will be one of the most energy import dependent large economies” Nuclear capacity will jump from 5.5 GW (2% of total power supply) in 2010 to 23 GW (7%) in 2030, and 25% by 2050 Indian power production lags total power demand by 9-10% India has 21 reactors in commercial operations, 6 under construction, 4 licensed to start construction and another 6 in advanced stages of securing construction licenses Present - 2 Following the agreement-in-principle on the 123 Agreement with the U.S., the Indian government announced plans for expansion of nuclear power to 63,000 MW by 2032, out of which 40,000 MW was expected to be procured from outside (LWR’s) In 2008, India