By IANS,
New Delhi : GMR Energy plans a foray into nuclear energy with an investment of more than Rs.100 billion to generate 2,000 megawatts of power, a top company official said here Thursday.
“We are looking for partners and talking to companies in France, United States and Korea,” said the company’s executive vice-president Avinash Ramakant Shah on the sidelines of the India Electricity 2008 exhibition and conference being held here.
He said that they were looking to “start with” 2,000-3,000 MW of nuclear power capacity, which would involve an investment of over Rs.100 billion.
GMR Energy, an unit of GMR Infrastructure Ltd, has current projects with a capacity totalling 4,500 MW.
The company wants to increase its capacity to 10,000 MW with investment in nuclear energy. This would include about 3,000 MW in the hydro energy sector.
“We are right now in the planning stage. It will take at least one year to give shape to any kind of concrete plan,” Shah said.
He said that it was too early to comment on the price of nuclear-generated electricity, but it had to be competitive compared to other fuel options.