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Economic Efficiency Key to Rosatom’s India Success
Economic Efficiency Key To Rosatom’s India Success. With the completion of the first two units under the intergovernemental agreement of 2008, the Russian side has offered a new credit for the construction of the unit 3, 4 on the similar terms as for the credit for the first two units.
After Kudankulam NPP’s unit 1 going online last year and unit-2 near completion, groundbreaking of unit-3 and 4 planned in financial year 2015-16, Russia’s Rosatom State Corporation is far ahead of its French and American rivals, who are still balking at the Indian Civil Liability for Nuclear Damage act.
The very signing of the initial agreement by Indian Prime Minister Rajiv Gandhi and Soviet President Mikhail Gorbachev in 1986 just when the major nuclear superpowers were pursuing embargo policy in India, was truly an act of friendship and strategic partnership between New Delhi and Moscow. Then India was under US and Western sanctions, but Soviet Unioncame forward to help in meeting its growing energy. However, the deal was put on backburner due to Soviet collapse.
India demonstrated then its trust in Russian reactors safety.
With the completion of the first two units under the intergovernemental agreement of 2008, the Russian side has offered a new credit for the construction of the unit 3, 4 on the similar terms as for the credit for the first two units.The financing terms offered by Russia have a direct impact on the per unit price of electricity. According to Department of Atomic Energy (DAE) KKNPP is producing electricity at Rs. 3.5 (US$0.06) per unit, while under the projects of its closest rivals it would be between Rs. 6.5 (US$ 0.10) to Rs 12 (US$ 0.19).
In the case of Mithi Virdhi project where American company Westinghouse Electric is providing AP-1000 reactors, the cost per kWh is coming to around Rs 40 crores while the cost per unit is around Rs 6.
The DAE declared its skepticism about the American proposal due to its high cost.
"If we take inflation into consideration, even then the cost is very high. We are also answerable to people. Plus, there is a lot of opposition to nuclear projects where we have foreign collaborators,” DAE Secretary was quoted as saying.
Sources do not rule out that in case the failure to find an amicable solution based on sound economic efficiency, Russia could remain the only nation working in India’s civil nuclear sector.
By Dinara Shikhametova
