Anil Ambani Group firm Reliance Energy, Tata Power, GMR and aluminium manufacturer Nalco are keen to enter nuclear power business, NPCIL Director (Finance) JK Ghai said.
"Presently the law does not allow private sector companies in nuclear power generation and for that to happen the government will have to amend the Atomic Energy Act," Ghai said.
The private companies have approached the Department of Atomic Energy for setting up nuclear power plant and in all likelihood when the government amends Atomic Energy Act, it will initially allow their entry to the business in joint venture with NPCIL, he said.
Ghai said state-owned NTPC and Indian Oil Corporation too have interest in nuclear power generation and NPCIL was in advanced talks with them for JV. "With NTPC, we may formally launch (the JV) next week," he said.
NTPC will have 49 per cent stake, while remaining 51 per cent will be held by NPCIL. He said IOC was willing to invest Rs 8,000-10,000 crore (Rs 80-100 billion) over 6-7 years and the oil refiner may take equity anywhere between 26-49 per cent.
The Atomic Energy Act presently allows NPCIL to form JV with public sector companies. Ghai said Indian Railways has also approached NPCIL for setting up a 700 MW captive power plant.
"We are discussing with them on their requirement and the modalities," he said. NPCIL has 4,120 MW of nuclear power generation capacity which will rise to about 7,000 MW by 2012 and 20,000 MW by 2020.
