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« Scotiabank positive on nickel - coal and uranium at rock bottom | Main | The White House's Climate Assessment Heats Up The Discussion About Nuclear Power »
Tuesday
May272014

Narendra Modi government may go slow on nuclear energy expansion: PwC

Chart courtesy of u308.biz

The new government may put on the back-burner a plan to install 20 gigawatts of nuclear power capacity in the country by 2020 and instead focus on wind and solar to achieve energy security, says PwC. "Nuclear projects are not likely to be on the radar of the Modi government, at least for the next two years. It will first focus on increasing coal production, allocation and pricing, apart from clearing the balance sheets of distribution companies," PwC executive director energy utilities Sambitosh Mohapatra told PTI.

Rather than nuclear, the Modi government may focus on increasing wind and solar power capacity, especially when these models worked successfully in Gujarat, Mohapatra said. The power, coal, and new and renewable energy portfolios in the Modi Cabinet are held by Piyush Goyal, who is from Maharashtra, where BJP ally Shiv Sena was opposing the 9,900 MW Jaitapur nuclear project. Former Prime Minister Manmohan Singh had set a target of installing 20 GW of nuclear power capacity by 2020 and 63 GW by 2032.

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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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