Several held up projects such as the long-pending Gorakhpur Haryana Anu Vidyut Pariyojna (GHAVP) are now expected to move forward after setting up of the insurance pool.
The government has finally launched an insurance pool of Rs. 1,500 crore, a mandatory requirement under the Civil Liability for Nuclear Damage Act by filling in the gap of Rs 500 crore through the British Nuclear Insurance Pool.
Several held up projects such as the long-pending Gorakhpur Haryana Anu Vidyut Pariyojna (GHAVP) are now expected to move forward after setting up of the insurance pool.
Clauses in the CLND Act, which give the operator the Right to Recourse and allow it to sue the suppliers in case of any accident, were seen as being a major hindrance to the growth of the nuclear industry. These concerns led to the formation of the Indian nuclear insurance pool.
RK Sinha, Secretary in the Department of Atomic Energy, said this would be a solution for suppliers' concerns about liability from nuclear risks.
India's stated requirement that no inspector will be allowed to inspect our plants will be fully met, said union minister of state (Independent Charge) Atomic Energy and Space, Dr Jitendra Singh.
He assured that the government is not contemplating any alterations in the Nuclear Liability Act (passed in 2010 during UPA-II tenure) in any manner.
"With this, the decks have been cleared for further progress in installing a Pressurized Heavy Water Reactor with a capacity of two units of 700 MW each in Gorakhpur, Haryana. This reactor is expected to get commissioned by 2022 or 2023,"he added.
The GHAVP which was sanctioned by the previous UPA government had met with some problems kike tenders not getting matured due to absence of an insurance pool. The launch of the pool would now enable the concerned parties to come forward for the project, Singh said.
Singh said the pool would help the government in achieving Prime Minister Narendra Modi's vision of tripling energy generation from nuclear sector - - from 5680 MWe (Megawatt electric) to over 16500 MWe - within the next 10 years.
Allaying misgivings, Dr Singh reiterated that Jaitapur nuclear power project in Maharashtra is going as per schedule and would be accomplished without any hurdles. BJP's alliance partner, Shiv Sena has been opposing Jaitapur nuclear power plant.
"Apprehensions that Nuclear energy is unsafe and costly are unfounded. There has not been a single incident of cancer death of a nuclear scientist in our plants which is proof enough of their safety. Moreover, nuclear power plants 75% component is of capital cost which they usually recover in 20 years period after which the electricity virtually comes free," said Dr Singh.
Dr Singh credited Prime Minister Modi's recent Canada visit for accomplishing the deal to obtain 3000 tons of uranium over the next five years.
"A pre-engineering agreement was signed between NPCIL of India and Areva Company of France while another one between Larsen & Toubro and Areva during PM's France visit. These agreements would greatly improve our capability to develop own indigenous components and heavy water reactor in line with Make in India goal," he said.
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