Private nuclear power developers in India are advocating for their sector to be recognised as green to access new financing opportunities, as policy reforms seek to expand nuclear capacity and private participation.
Private nuclear power developers in India are pressing for atomic energy to be classified as green, arguing that the change would open the door to green bonds, green loans and blended finance for future projects. During a stakeholder consultation led by NITI Aayog, industry participants also urged a review of existing green finance rules, including the Ministry of Finance’s sovereign green bond framework, the Reserve Bank of India’s rules on green deposits and the Securities and Exchange Board of India’s framework for green debt securities.
Abhay Karandikar, a member of NITI Aayog, said at the opening of POWERGEN India’s Nuclear X event that current frameworks do not include nuclear energy. He said there was a broad suggestion from industry to revisit the rules so that nuclear projects could access green bonds, green loans and blended financing schemes. Karandikar has also argued that India will need stronger policy support and better financing mechanisms if it wants to scale up nuclear power in the years ahead.
The push comes as India expands the policy space for private participation in a sector that had remained tightly controlled for decades. According to reports on NITI Aayog’s recent consultation on the SHANTI Act, 2025, the discussion covered draft rules, investment and insurance structures, and the building of a domestic nuclear manufacturing base. The law is seen as a major opening for private capital and foreign technology as India seeks to broaden its energy options while cutting emissions.
Industry advocates say financing rules will be just as important as legal reform. Reports on the consultation said India’s green finance architecture does not yet cover nuclear investment, even as the country pursues ambitious long-term capacity goals. Karandikar has pointed to a target of 100 gigawatts of nuclear capacity by 2047, arguing that policy changes, workforce development and a deeper financing pool will be needed to attract both domestic and international investors.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
