Indian nuclear expansion gets financing

Nuclear Power Corporation of India Limited's large capacity addition program will be financed by the Power Finance Corporation.

Th World Nuclear News reported that the NPCIL has completed a memorandum of understanding with government owned finance company PFC for this project.

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.