Indian Oil Corp, a state company, is holding initial talks with India's atomic energy monopoly; Aimed at building small nuclear units, it is an early-stage technology and is seen as a cost-effective alternative to larger plants.

The Director of Research and Development at Indian Oil stated – during a press conference on Wednesday, April 4, 2024 – that the refining company operating in the retail fuel trade is exploring establishing a company with the “Nuclear Energy Corporation Limited” in India, which is affiliated with the state, to use small modular reactors in refining facilities. affiliate in pursuit of clean energy.

Policymakers are promoting small-scale nuclear technology with a production capacity of about 300 megawatts, which is considered faster to build and easier to adapt to grid requirements, and the Indian government is considering allowing private companies to manage and operate the reactors.

State-run power producer NTPC and hydrocarbon producer Oil & Natural Gas Corp are among the companies exploring the opportunity in nuclear energy. India produces about three-quarters of its electricity reserves from coal, and nuclear power accounts for about 3% of its electricity generation.

The International Atomic Energy Agency stated that China and Russia have operational units for small nuclear reactors around the world, but there are countries preparing to start operating them.