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Tata Power Explores Small Modular Reactors Business

Tata Power is exploring entry into the small modular nuclear reactor (SMR) business, while planning to divest USD 1 billion worth of non-core international assets.

CEO and Managing Director Praveer Sinha revealed that the company's foray into SMRs depends on favourable amendments to India’s Atomic Energy Act and supportive policy measures. Tata Group companies like Tata Steel and Tata Motors could become potential customers for Tata Power’s nuclear energy solutions.

The recent Union Budget announced a Nuclear Energy Mission with a Rs 20,000 crore allocation for research and development of SMRs. The mission aims to have at least five indigenously developed SMRs operational by 2033, with the goal of reaching 100 GW of nuclear power capacity by 2047.

He emphasized the significant opportunity in nuclear power, provided the technology is cost-effective and policy support is in place. Tata Power plans to integrate its nuclear offerings into its clean energy solutions for companies in the commercial and industrial sectors.

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