Naveen Jindal Group is exploring multiple locations in at least nine states, including Gujarat and Odisha, to set up high-capacity nuclear projects.
As part of its energy diversification strategy, the Group is looking to set up 18 GW nuclear plants with investments worth lakhs of crores to contribute to the government’s ambitious 100 GW nuclear capacity target by 2047.
The group, which is currently in steel, mining, power, renewables, and real estate sectors, has planned a foray into the nuclear space with Jindal Nuclear Power Private Limited, a 100 per cent subsidiary of Jindal Renewables.
“Discussions are on, and we are actively engaged with multiple state governments,” an official familiar with the development said.
The official, who did not wish to be quoted, said the Group is exploring locations in over nine states of the country. When asked about the detailed locations, he said they are mostly coastal states such as Gujarat, Odisha, Andhra Pradesh, Tamil Nadu, along with Jharkhand and Chhattisgarh.
Mostly coastal states are being explored, as water is a key requirement for a nuclear project. Other states where supply is feasible through water bodies are being explored, the official said. The sites are being evaluated on parameters including land availability, water resources, geological and seismic suitability, transmission connectivity, regulatory readiness and long-term project viability. On the capacities of the proposed projects, the official said the plan is to set up these nuclear plants, installing large module reactors (LMRs) of 700 MW and above.
Citing industry estimates, the official said investments worth Rs 15,000-Rs 20,000 crore are required to set up every 1 GW nuclear plant, and it takes around three years from concept to commissioning.
The company is also engaged with various international players to explore possibilities of entering into partnerships for technologies required for the nuclear projects.
