US reactor suppliers must be cognizant of cost effectiveness: India’s Deputy Ambassador
WASHINGTON: US atomic reactor suppliers should be cognizant of “cost competitiveness” when they set up power plants in India under the historic civil nuclear deal, a top Indian diplomat has said while allaying concerns over the progress in setting up of a Rs 1,500 crore insurance pool.
“The (US) companies should bear in mind the need for cost competitiveness of nuclear power vis-a-vis alternative resources,” India’s Deputy Ambassador to US Taranjit Singh Sandhu said.
“In future, as India scales up its renewable energy sector, the merit of nuclear power will increasingly be measured by the cost the consumers will pay for it,” Singh said yesterday during a Congressional briefing on India-US nuclear energy trade.
US companies could consider localisation and softer credit availability to make themselves more competitive in India’s energy market, he said at the event organised by US India Political Action Committee.
India’s public sector nuclear operator Nuclear Power Corporation of India Ltd (NPCIL) is in discussions with two US firms — Westinghouse Electric Corporation and GE-Hitachi — for setting up nuclear reactors in the country.