Small Modular Reactors (SMRs) represent a new wave of nuclear technology, characterized by their compact design and capacity of up to 300 MW(e) per unit. Unlike traditional reactors, SMRs are factory-built and can be easily transported to various locations, including remote and industrial areas. Their modularity ensures quick deployment, cost-effectiveness, and the ability to scale based on regional energy requirements.
In a bid to diversify its clean energy portfolio and curb carbon emissions, India is focusing on SMRs. The target is to operationalize at least five indigenously developed SMRs by 2033, with an ambitious aim to achieve 100 GW of nuclear energy by 2047. SMRs are particularly attractive due to their adaptability to various terrains and their suitability for off-grid locations.
The Indian government has launched the Nuclear Energy Mission, allocating ₹20,000 crore to bolster the research, development, and deployment of SMRs. This initiative seeks to foster homegrown technology and build a robust ecosystem in collaboration with both public and private stakeholders.
Currently, the Atomic Energy Act restricts nuclear power activities to government entities. To invite private sector engagement, amendments are necessary. These changes would allow private ownership and licensing of nuclear facilities, facilitate joint ventures, and streamline regulatory approvals for new SMR projects, thus encouraging investment and innovation.
The existing liability framework is a deterrent for private investment due to the significant risks involved. Proposed amendments aim to define liability limits, establish insurance frameworks, and align with global norms. These adjustments are crucial for providing legal certainty and sharing risks, thereby boosting private sector confidence.
Several challenges accompany private sector involvement, including ensuring stringent safety standards, enhancing regulatory oversight, building public trust, establishing fair liability mechanisms, and adhering to international commitments like non-proliferation.
SMRs can significantly benefit industrial hubs, remote regions with limited grid access, islands, border areas, and strategic establishments requiring reliable off-grid power solutions.
With necessary legal amendments, public-private partnerships in the nuclear sector could take various forms, such as joint ventures between public sector units and private companies, Build-Own-Operate-Transfer (BOOT) models, and government-funded R&D with private project execution. These collaborations aim to merge public oversight with private sector efficiency.
The regulatory landscape must evolve alongside legal reforms. This involves creating a transparent licensing framework for private players, enhancing the Atomic Energy Regulatory Board's oversight capacity, and defining standards for safety, waste management, and SMR operations. A robust mechanism for dispute resolution and compensation is also essential.
"Civil servants must remember that real progress comes not just from bold plans, but from the courage to reform the laws that hold them back."
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