Finance for Indian nuclear expansion

29 October 2010

Nuclear Power Corporation of India Limited (NPCIL) has completed a memorandum of understanding with government owned finance company Power Finance Corporation (PFC) to "facilitate NPCIL's large capacity addition program." Under the 28 October agreement PFC intends to provide a combination of debt financing, equity financing and consultancy services to NPCIL, India's sole nuclear operator. Formed in 1985, NPCIL manages the country's nuclear fleet of 19 reactors with a generating capacity of 4560 MWe. This is expected to reach 9580 MWe by 2017 as reactors are brought on line and the company's vision is for 20,000 MWe by 2020, and 60,000 MWe by 2032 based mainly on imports.