ReNew’s Sumant Sinha says cheaper nuclear power can replace coal in India
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Sumant Sinha, Chairman & CEO of ReNew, indicates that nuclear projects could be a viable alternative to coal. He emphasizes that reducing the high setup costs of nuclear plants is crucial for wider adoption. India aims to increase its nuclear capacity from 8.8 GW to 100 GW by 2047. Current estimates suggest this growth will require substantial investments of Rs 15 lakh crore.
New Delhi: Nuclear projects can be a "good replacement" for coal in India if the cost for setting up the non-fossil fuel-based capacities comes down, an industry executive said on Thursday.Currently, India produces less than 10 gigawatt (GW) of nuclear power, Sumant Sinha, Chairman & CEO of ReNew said noting the EPC cost for setting up nuclear projects tends to be much higher in the country.
"Right now we (India) produce about less than 10 GW of nuclear capacity. Most of that is relatively expensive because EPC costs tend to go much higher than what was originally anticipated," Sinha, who is also the Founder of homegrown renewable energy player, said.
Sinha did not share any financial details related to cost involved in setting up a nuclear project in India. According to industry estimates, a 1 GW nuclear plant requires an investment of Rs 15,000-20,000 crore and typically takes at least three years from concept to commissioning.
His comments came in as part of discussions during a session at the ongoing Bloomberg New Economy Forum 2026 in the national capital.
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Replying to a question related to the scope of nuclear power in India, Sinha said the cost to set up nuclear plants has to be lower, which can replace coal in the long-term.
"...it's not clear to me what the eventual cost of the nuclear power is going to be and India has a pretty cost-sensitive market. So if the cost is a lot higher, then I don't see a lot of people adopting nuclear that easily. But having said that, it is a bit of a like-to-like replacement for coal," he noted.
In India, the government has set a target to scale up the country's nuclear capacity target to 100 GW by 2047 by adding around 91 GW to the current 8.8 GW.
"We want to have 100 gigawatts of nuclear capacity, which is a 10x growth in the next 20 years. ...you can argue that if you can get the price of nuclear down, in longer term, it'll be a good thing to replace coal with," Sinha said.
The Central Electricity Authority (CEA), a body that advises the Centre on matters related to the national electricity policy, has estimated that the country's 100 GW nuclear capacity vision will require investments worth Rs 15 lakh crore.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
