The US-based power major said it is open to partnering local firms to set up new facilities or take part in expansions.
NEW DELHI: US-based power major GE Energy on Wednesday said it was looking at the potential of nuclear business in India and was open to forming joint ventures with local companies.
“We are open to entering the Indian market as an owner or an operator,” Andrew White, president and CEO, GE Energy, said at a media briefing here. He said the company would consider either setting up new plants or taking part in the expansion of existing facilities.
Earlier in the day, White met NTPC chairman T Shankarlingam and senior officials in the power ministry. “If some utility wants to take part (in some projects) we will look into it,” he said.
GE Energy was offering two of its generation 3 and 4 reactors, which meet the Indian requirements.
White sounded optimistic about the passage of Indo-US nuclear cooperation agreement from the US Congress.
“India has an excellent expertise and Indian companies can participate with GE on a global basis,” he said.
White had on Tuesday met executives at the Nuclear Power Corporation of India Ltd and officials at the Atomic Energy Commission. “I am very confident and positive about the potential opportunities we have in this country provided we get through the political hurdles,” he said. GE’s revenue from nuclear business is about $2 billion in the overall portfolio of $163 billion, he said.
India aims to produce 25% of its power from nuclear sources by 2025 compared to only 2.7% now. Global nuclear energy majors including French major Areva have been eyeing the Indian market after the signing of Indo-US civil nuclear deal and the visit of US president George Bush.
Stating that the power demand in India and China was growing fast, White said China, with only about 1% of nuclear-based power, is far behind India. “We are hopeful of doing business in India and China,” he averred.
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