Tata Power to Invest $2.39 Bn in Capital Expenditure (Capex) in FY25

• To explore Small Modular Nuclear Reactors and Discoms expansion opportunities
• Growing focus on consumer businesses in the emerging clean energy space.

Tata Power, the integrated power company, plans to invest ₹20,000 crore (or US $2.39 billion approx. ) in capital expenditure (capex) during the financial year 2024-25. This substantial investment is in addition to the ₹12,000 crore already invested in FY24.

Chairman Natarajan Chandrasekaran shared this announcement during the company's 105th Annual General Meeting (AGM). The capex will be directed toward accelerating Tata Power's renewable energy portfolio, as well as investments in transmission and distribution businesses.

Additionally, the company aims for aggressive growth in rooftop solar projects and seeks to increase its market share through the Union government's PM Surya Ghar Yojana. With a current clean energy portfolio of 9 GW, Tata Power aims to achieve 15 GW within the next five years, encompassing both existing and ongoing projects.

The company will also explore participation in Small Modular Nuclear Reactors, once the Government gives necessary permissions apart from new distribution expansion opportunities in other states, as and when these opportunities arise in line with Government policies. 

Performance and Future Plans:

Consolidated revenue grew 10% to Rs 61,542 crore; PAT increased 12% to Rs 4,280 crore. The Company continued its efforts to strengthen its balance sheet and maintained the net debt to equity <1 even after funding its growth plans.

• Renewable Energy: Aiming for 15 GW clean energy portfolio in 5 years from the existing 9 GW, both from existing and ongoing projects
• Manufacturing: Set up New 4.3GW Solar cell and module manufacturing plant in Tamil Nadu.
• EV Charging: Leading with 5,500 public and captive chargers in 530+ cities, and 86,000+ home chargers installed.
• Rooftop Solar: Fully geared to solarize homes through its ‘Ghar Ghar Solar’ initiative under PM Surya Ghar Yojana. Executed 2GW+ rooftop projects so far and has an order book of Rs 2,800 crore.

Based on its performance, the Company’s Board of Directors recommended a dividend of Rs. 2/- per equity share of Re.1/-

Nuclear Tech: Minister Invite Participation of Pvt Sector and Startups for Building SMR Technology Within India

Union minister Dr Jitendra Singh has recently told that India is taking steps for development of Small Modular Reactors (SMR), with up to 300 MW capacity to fulfill its commitment to Clean Energy transition.

Small modular reactors (SMRs) are nuclear fission reactors that are smaller than conventional nuclear reactors as we know it. SMRs are modular nuclear reactor units with an output of up to 300 megawatts of electricity. Given their smaller footprint, SMRs can be sited on locations which are not suitable for larger nuclear power plants.

Addressing a Workshop on Small Modular Reactors (SMR) organized by NITI Aayog and Department of Atomic Energy, Dr Jitendra Singh said, the participation of private sector and Start-ups needs to be explored in development of this critical technology within India. He emphasized that technology sharing and availability of funding are the two crucial links for ensuring commercial availability of SMR technology.

The minister said that the exploration of new clean energy options is in tune with Prime Minister Modi’s roadmap for clean energy transition through bold climate commitments which are reflected in our updated Nationally Determined Contributions (NDCs).

"We have already taken steps for clean energy transition with penetration of non-fossil based energy resources and achieving net-zero by 2070, nuclear in terms of base load power can play a big role in the de-carbonization strategy. It is in this context that the role of nuclear energy will be critical for clean energy transition of not just India but for the entire World.",said Dr. Singh.

While there are few startups across the globe working on SMR technology, one of them is NuScale, a US based nuclear tech startup, which in August 2020 became

first such startup to receive design approval from U.S. Nuclear Regulatory Commission (NRC).

As of now, the floating nuclear power plant Akademik Lomonosov (operating in Pevek in Russia's Far East) is the first and only operating SMR prototype in the world.

British luxury car maker Rolls-Royce is also working of SMR technology. Other companies working on SMR technology include Hyperion, Holtec, General Atomics, and Hybrid Power Technologies.

NuScale becomes 1st Nuclear Tech Firm to Receive US Govt.'s Design Approval for its Small Modular Reactors

Oregon, United States -based NuScale Power, that designs and markets small modular reactors (SMRs) -- nuclear reactors that generates generally 300 MWe equivalent of energy or less, has announced today that the U.S. Nuclear Regulatory Commission (NRC) completed Phase 6 review—the last and final phase—of the Design Certification Application (DCA) for the company’s groundbreaking small modular reactor (SMR) with the issuance of the Final Safety Evaluation Report (FSER), which means the completion of the technical review and approval of the NuScale SMR design.

With this final phase of NuScale’s DCA now complete, customers can proceed with plans to develop NuScale power plants with the understanding that the NRC has approved the safety aspects of the NuScale design.

NuScale's SMR designs are for its 65 feet tall x 9 feet high reactor vessels that use conventional light water cooling methods and runs on low enriched uranium fuel assemblies based on existing light water reactor designs.

Earlier in April 2019, NuScale announced that it was developing a 1-10 MWe "simple and inherently safe compact heat pipe cooled reactor" that "requires little site infrastructure, can be rapidly deployed, and is fully automated during power operation." Partners include Additech, INL, and Oregon State University. The project follows solicitation of ideas and designs from the US Department of Defense and the Department of Energy. 

A diagram depicting a NuScale reactor. [ credit - NuScale / CC BY-SA ]

An artist’s rendering of NuScale Power’s small modular nuclear reactor plant. Photo courtesy of NuScale

NuScale’s DCA was completed in December 2016 and accepted by the NRC in March 2017. The review process demonstrated both the simplicity of NuScale’s SMR design and the thoroughness of the company’s application. As an example, during the rigorous Phase 1 review process, which included 115,000 hours spent reviewing the DCA, the NRC issued far fewer requests for additional information compared to other design certification applications. NuScale spent over $500 million, with the backing of Fluor, and over 2 million labor hours to develop the information needed to prepare its DCA application. The company also submitted 14 separate Topical Reports in addition to the over 12,000 pages for its DCA application and provided more than 2 million pages of supporting information for NRC audits.

This is a significant milestone not only for NuScale, but also for the entire U.S. nuclear sector and the other advanced nuclear technologies that will follow. This clearly establishes the leadership of NuScale and the U.S. in the race to bring SMRs to market. The approval of NuScale’s design is an incredible accomplishment and we would like to extend our deepest thanks to the NRC for their comprehensive review, to the U.S. Department of Energy (DOE) for its continued commitment to our successful private-public partnership to bring the country’s first SMR to market, and to the many other individuals who have dedicated countless hours to make this extraordinary moment a reality.

said NuScale Chairman and Chief Executive Officer John Hopkins.

"Additionally, the cost-shared funding provided by Congress over the past several years has accelerated NuScale’s advancement through the NRC Design Certification process. This is what DOE’s SMR Program was created to do, and our success is credited to strong bipartisan support from Congress."

The simulator control room at NuScale Power's small modular reactor design facility in Oregon. Photo courtesy of NuScale

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 60 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—a power plant can house up to 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK.

NuScale competes with other similar SMR makers like Hyperion, Holtec, General Atomics, and Hybrid Power Technologies, among others.

Last year in June, Holtec signed a partnership agreement with Ukraines Energoatom and Ukraine's national nuclear consultant, State Scientific and Technical Centre for Nuclear and Radiation Safety (SSTC-NRS), to establish a consortium to explore the environmental and technical feasibility of qualifying a 'generic' SMR-160 system that can be built and operated at any candidate site in the country. This would establish a reactor design capability in Ukraine, with a view to it becoming a regional hub for selling such reactors in Europe, Asia and Africa.
~ with inputs from Businesswire