Maharashtra Takes Lead on New Small Modular Reactors: Fadnavis
Chief Minister Devendra Fadnavis disclosed the execution of Memorandums of Understanding with an Indian and a Russian firm. He emphasized that these collaborations would center on ‘Small Modular Reactors’ to address the substantial demand for electricity.
Pradip Kumar Das, the leader of the Indian Renewable Energy Development Agency (IREDA), conveyed at the Davos summit that the robust clean energy infrastructure established by the Indian government in recent years serves as a blueprint for global adoption.
Also Read: Reliance Consumer Products Partners With Ajith Kumar Racing
Addressing the audience at the World Economic Forum, Das underscored India's facilitation of an ideal setting for overseas entities to engage in sustainable energy initiatives. Moreover, a memorandum of understanding was executed with Sembcorp Development Ltd., based in Singapore, to establish environmentally-friendly and low-carbon industrial ecosystems in key regions such as Palghar, Raigad, and Kharbav.
Regarding whether there have been discussions about using nuclear energy in smaller clusters, Devendra Fadnavis says, "We have basically taken the initiative in this regard, and the first project will probably be in Maharashtra. This is because we have signed MoUs with both an Indian government company and a Russian company”.
He adds, "Now, due to the new developments in the civil utilisation of nuclear energy, we are going to develop Small Modular Reactors (SMRs). SMRs are a means to meet the large-scale electricity needs we will have in the coming days, especially when data centres, the circular economy, municipal corporations, the private sector, and financial institutions collaborate to fund them”.
Also Read: Sharad Malhotra Named Managing Director of Nippon Paint India
Additionally, the Mumbai Metropolitan Region Development Authority (MMRDA) entered into a memorandum of understanding with the Technical University of Munich (TUM) in Germany to collaborate on advanced mobility engineering, climate-resilient urban planning, and transit-oriented development.
Explaining the success of the Indian model, Pradip says, “We have come here to share the information, the ecosystem which the government of India has built in the last 10-11 years, in particular”.
“The way renewables have grown in India over the last decade, and more, is an example for any global player to learn from the ecosystem the government of India has built. The CAGR (Compound Annual Growth Rate) over the last five years is 22.5 per cent. We will not find such a CAGR growth in any industry”.
“Many foreign investors are investing in India, and IREDA is the leading agency for RE financing in the country. We are the largest pure-play green finance company in the country”.
Also Read: Haldiram’s to Bring Jimmy John’s, Enter Western Fast Food Space
This partnership also involves Urban Futures Collective in London and a global academic consortium that includes esteemed institutions such as MIT Media Lab and UCL to create open-source digital twins for data-driven metropolitan governance.