The Indian Railways will soon set up its own small nuclear plants to meet the energy needs, an Economic Times report said on Wednesday. The ET report further said that the Department of Atomic Energy is being consulted by the Indian Railways to understand the feasibility of setting up a small nuclear plant.
This critical step will also help the Indian Railways in meeting the net zero goals by 2023, the report added. As per the initial plan, the DAE and the power ministry will help in setting up and operationalising the nuclear plant along with fuel supply. The Indian Railways, on the other hand, will provide land for the plants.
Additionally, the railways will also buy 3 GW of green energy. This includes a mix of 3 GW of thermal and nuclear power and hydropower as well. The rest of the power quota will be sourced from distribution companies. The electricity is needed to run some train services. The ET report said that the Indian Railways has already started looking for suitable location for setting up the nuclear plant.
Last week, in a reply in the Rajya Sabha, Railway Minister Ashwini Vaishnaw had said that both power ministry as well as the Nuclear Power Corporation of India Limited have been consulted regarding nuclear power supply to the railways.
During budgetary allocation for the railways in the Upper House, Vaishnaw had also spoken about Indian Railways’ new global ambitions. The minister said that by the ned of the current fiscal, the Indian Railways is likely to be ranked among top three freight carriers along with China and the US.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!