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Mumbai, Sept. 23 For private sector investment in the nuclear arena the road ahead is long and it will take a minimum of eight to 10 years before the first private nuclear power project takes shape, said Mr Anil Ambani, Chairman of Reliance Power Ltd, on Tuesday.

Addressing the shareholders at the 14th AGM of the company, Mr Ambani said that it will require at least 15 other policy changes over and above suitable amendment in the Atomic Energy Act for nuclear ventures.

The policy changes include redefining the role of the regulatory board, enacting national legislations on civil liabilities, safety and operation of nuclear plants in line with international conventions and practices. Other areas of change include policies for advance selection and investigation of nuclear sites, spent fuel handling and guidelines for decommissioning of plants.

“We have had a dedicated team working on the nuclear opportunity for the past three years, and have conducted a series of discussions with the leading international players in the nuclear power industry. We will watch the emerging scenario in the nuclear space closely and hope to play a meaningful role when the sector is eventually opened up for private participation” Mr Ambani said.

Mr Ambani said that the company plans to bring on stream a total generation capacity of over 28,000 MW in the next eight years. The power generated by these projects will be sold under a combination of long term and medium term Power Purchase Agreements (PPAs). A portion of the capacity will also be reserved for merchant sale. So far, long-term Power Purchase Agreements to the tune of 10,000 MW have been committed, he said.

The company is also exploring opportunities in solar power. As a part of this initiative it is considering setting up a 100 MW grid interactive concentrating solar power plant through an exclusive tie-up with a technology provider, he said.

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