The World’s first Nuclear Energy Summit

• The Prime Minister of Belgium, Alexander De Croo, and the Director General of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, co-chaired the first Nuclear Energy Summit held in

ABOUT THE SUMMIT

• This Summit is an initiative in collaboration with the IAEA’s ‘Atoms4Netzero’ programme.
• Atoms4NetZero is an IAEA initiative that supports efforts by Member States to harness the power of nuclear energy in the transition to net zero.
• Launched during COP27, this initiative provides decision makers with data-driven energy scenario modelling.
• It is part of the multilateral approach to

NUCLEAR ENERGY

• Nuclear energy is a form of energy released from the nucleus, the core of atoms, made up of protons and neutrons.
• This source of energy can be produced in two ways: fission – when nuclei of atoms split into several parts – or fusion – when nuclei fuse together.
• There are currently 440 nuclear reactors worldwide, accounting for a quarter of low-carbon energy.
• 60 reactors are under construction, with 110 in the planning stage, particularly in
• China aims to increase nuclear energy’s share to 10% by 2035 and 18% by 2060.

INDIA’S NUCLEAR OUTLOOK:

• India’s first commercial Nuclear Power Plant in Pahalgarh, Tarapur offers reliable energy at 2/kWh lower than solar power tariffs.
• Despite its versatile nature, nuclear power contributes only 1.6% of the total renewable energy mix in India.
• India’s nuclear plants offer reliable energy at competitive prices compared to coal and solar.
• Challenges include stigma, regulation, and project overruns, limiting adoption.
• Recent liberalization efforts, including private investments and capacity expansion plans, signal a positive future for India’s nuclear industry.
• $26 billion in private investments, the aim of a phase-wise tripling of nuclear capacity from 7,480 MW to 22,480 MW by 2031-2032 all mark a positive future for the industry.
• The Prototype Fast Breeder Reactor (PFBR) represents a significant advancement in India’s nuclear capabilities.