Major Private Players Show Interest

The state-run Nuclear Power Corporation of India Limited (NPCIL) has received significant private sector interest for its Bharat Small Reactor (BSR) program. Reliance Industries, Adani Power, Tata Power, Hindalco Industries, Jindal Steel & Power (JSPL), and JSW Energy are among the frontrunners. These companies have initiated the process of signing non-disclosure agreements (NDAs) and obtaining preliminary technical and financial datasets, including plant performance benchmarks, tentative bills of quantity, and operations and maintenance-related expenditure estimates.

Status of Bid Submissions And Evaluations

NPCIL confirmed that RIL, Hindalco, Tata Power, and JSPL have already completed NDA formalities and collected project data. Adani Power and JSW Energy have submitted the necessary paperwork, which remains under evaluation. The interest from such a diverse group of large conglomerates highlights a potential shift in India’s nuclear power development strategy, where private financing and industrial leadership could complement state-led operational oversight.

Extension of Bid Deadline

Originally slated to close on September 30, 2025, the BSR tender has now been extended until March 31, 2026. NPCIL explained that the extension was granted in response to bidder requests, as companies require more time to assess site viability, finalize capital expenditure estimates, and evaluate lifecycle O&M costs. This extension also provides bidders with additional time to engage with state governments on issues of land acquisition and water availability.

Site Identification Across Six States

As part of the proposal process, bidders identified 16 potential sites for deploying twin 220 MWe pressurised heavy water reactors (PHWRs). Gujarat has emerged as the leading candidate with five sites, followed by Madhya Pradesh with four and Odisha with three. Andhra Pradesh has proposed two sites, while Jharkhand and Chhattisgarh have one each. NPCIL has formally approached the governments of Gujarat, Madhya Pradesh, and Odisha to extend support for land allocation, water resources, and preliminary site investigation activities.

RFP Terms: Financing By Industry, Operational Control By NPCIL

The Request for Proposal (RFP), floated on December 31, 2024, lays down clear partnership conditions. NPCIL will maintain operational control and hold asset ownership of reactors, but private players are required to fully finance project development — covering capital expenditure, O&M costs, and even end-of-life decommissioning. The successful bidders will, however, secure long-term rights to all net electricity output, enabling them to use the generated power for captive consumption and industrial demand.

Strategic Policy Shift In Nuclear Sector

The BSR contract marks the first major attempt to involve private financing and participation in India’s nuclear power generation segment. Until now, private companies were confined to roles as equipment suppliers or EPC contractors. However, with India setting an ambitious nuclear power capacity target of 100 GW by 2047, the Ministry of Finance and the Atomic Energy Commission have backed reforms to allow private participation in small nuclear reactors and modular power solutions.

Legal And Regulatory Implications

To facilitate private sector entry, significant legal changes are underway. India’s existing nuclear policy framework grants NPCIL sole ownership and operational responsibilities. The government is expected to introduce legislative amendments enabling private sector financing and commercial participation, while still reserving sensitive operational control and safety oversight for NPCIL. The BSR tender is seen as a pilot initiative to test this public-private hybrid model before extending it to small modular reactors (SMRs) on a larger scale.

Outlook For India’s Nuclear Power Expansion

India currently operates about 8.8 GW of installed nuclear capacity, with several large reactors under various stages of construction. The BSR initiative dovetails with the long-term vision of expanding nuclear generation as a clean baseload alternative to fossil fuels. For major industrial groups like Reliance, Adani, Tata, and JSW, participation offers access to dedicated clean power sources for energy-intensive operations in metals, petrochemicals, and manufacturing. For the government and NPCIL, it represents an opportunity to harness private financing while ensuring state-led control of nuclear assets.

Agencies