New Delhi: Naveen Jindal Group is exploring multiple locations in at least nine states, including Odisha, to set up high-capacity nuclear projects.
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, will foray into 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,” said an official familiar with the development.
Besides Odisha, the Naveen Jindal Group is eyeing other coastal states like Gujarat, Andhra Pradesh, and Tamil Nadu, along with Jharkhand and Chhattisgarh.
Since water is a key requirement for nuclear project, mostly coastal states are being explored, the official said.
Evaluation of sites are based on parameters like land availability, water resources, geological and seismic suitability, transmission connectivity, regulatory readiness and long-term project viability.
The plan is to set up these nuclear plants installing large module reactors (LMRs) of 700 MW and above.
Going by industry estimates, investments of Rs 15,000 to Rs 20,000 crore are required to set up every 1 GW nuclear plant. It takes around three years from the stage of concept to commissioning.
The company is also exploring the possibility of entering into partnerships with various international players for technologies required for the nuclear projects.
