New Delhi: Naveen Jindal Group is exploring multiple locations in at least nine states, including Gujarat and Odisha, to set up high-capacity nuclear projects.
The conglomerate is also in discussions with various players to explore possibilities of entering into partnerships for nuclear power technologies.
As part of its energy diversification strategy, the group is looking to set up 18 GW nuclear plants with lakhs of crores of investments and contribute to the government’s ambitious 100 GW nuclear capacity target by 2047.
The group, engaged 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,” a group official familiar with the development said.
The official, who did not wish to be identified, said the group is exploring locations in more than nine states.
When asked about details, the official said they are mostly coastal states such as Gujarat, Odisha, Andhra Pradesh, Tamil Nadu, as well as Jharkhand and Chhattisgarh.
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 size of the 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 group is also engaged with several parties for the sourcing of nuclear technologies.