PM Modi Russia visit: Russia in talks with India about building six more nuclear power units

Russian state nuclear energy company Rosatom said on Tuesday it was discussing possibility of building six more nuclear power units in India, reported Reuters.

India's Prime Minister Narendra Modi is on two-day visit to Moscow, scheduled to hold official talks in the Kremlin later on Tuesday focusing on cheaper energy supplies and deeper economic and strategic ties.

The growing support for nuclear as a low-carbon energy source has seen uranium prices more than triple since the end of 2020, and the market could remain tight until 2029 as utilities replenish their inventories, according to Bloomberg Intelligence. Cooperation in civilian nuclear sphere doesn’t fall under the US sanction regime on Russia for its invasion of Ukraine.


“Kudankulam Nuclear Power Plant units 1 and 2 have already become operational, and the work is progressing on units 3 and 6,” India’s Foreign Secretary Vinay Kwatra said earlier. Moscow “remains an important partner for India’s energy security and defence,” he added.

Rosatom had previously supplied nuclear fuel to Kudankulam in 2022 and 2023.

The bulk of India’s uranium output comes from Uranium Corp. of India’s mines in the northern state of Jharkhand, where reserves are fast depleting.

India has spot deals for the procurement of the fuel with nations including Kazakhstan, Russia, France, Uzbekistan and Canada.

(With Bloomberg inputs)