Australian Uranium is Heading to India
India’s economy is the seventh largest in the world, predicted to rank third by 2030 and second by 2050. Energy is central to its rising potential, especially considering Prime Minister Modi’s promise to connect all citizens to a reliable power grid.
In December, India’s Central Electricity Authority forecasted that 57 per cent of India’s total capacity will come from non-fossil fuel sources by 2027 — aiming to surpass India’s renewable energy targets set in Paris two years ago. India intends to generate 275 gigawatts from renewables, alongside 72 GW of hydropower and almost 15 GW of nuclear energy.
India has 22 operating nuclear reactors with a capacity of almost 7000 megawatts, generating approximately three per cent of India’s electricity. The annual uranium requirement for the current fleet is approximately 1400 tonnes of uranium (tU) per year. Five more reactors are under construction and ten more are planned — once completed this would see India’s annual uranium needs more than doubling double to 3600 tU.
To meet the fuelling needs for current and new reactors, India utilises uranium resources at home and imports from abroad.
Read the full article at The Australian National University Crawford School of Public Policy's Policy Forum.