Mumbai: Reliance Power Ltd, the energy company controlled by billionaire Anil Ambani, is in talks with General Electric Co. and Areva SA to build nuclear plants after India changes rules to allow companies to invest in atomic energy.
Energy push: Inside an Areva nuclear plant. Besides Reliance Power, other Indian firms are also holding talks on nuclear plants.
The utility plans to build nuclear stations at two sites, chief executive officer Jayarama Chalasani said by telephone in Mumbai, adding Reliance Power is also in talks with Toshiba Corp.’s Westinghouse Electric Co. and Russia’s Rosatom Corp.
India may end a government monopoly on nuclear power generation after winning the backing of the nuclear suppliers group to trade in atomic fuel and technology.
Reliance joins Nuclear Power Corp., GVK Power and Infrastructure Ltd. and GMR Energy Ltd., which are in talks with overseas firms to set up plants. “Entering the business may be a positive for Reliance and other private sector companies but it’s too early to talk about the impact,” said Girish Solanki, an analyst at Angel Broking Ltd in Mumbai.
The Union government may unveil a policy to allow private firms access to the nuclear market after polls next year, Rajendra Pachauri, an adviser to Prime Minister Manmohan Singh on climate change, has said recently.