nuclear-news

For India sustainable banking and nuclear energy are incompatible

NUCLEAR EMERGENCY IN JAPAN: LESSONS FOR INDIA,  Aid Netherlands, Shankar Sharma November 25, 2011 “.……Tall claims have been made about the capability of Indian nuclear establishments, especially the Atomic Energy Regulatory Board (AERB), to ensure complete safety of nuclear power projects. The fact that the people manning AERB are generally deputed from Department of Atomic Energy (DAE) OR Nuclear Power Corporation Ltd., which is the operator of the nuclear power plants in the country, cannot assure the complete operational independence of AERB. As far as Chernobyl disaster is concerned Indian nuclear authorities have said that “… secrecy was part of the Soviet culture…” How transparent are the issues with our own nuclear establishments? Mr. A Gopalakrishnan, A former Chairman of AERB, has expressed concern about the complete dependence of AERB on DAE for resources.

There have been suggestions from Indian nuclear authorities that the safe storage of nuclear waste is technically feasible during its active life time. Is it really so, and if so, what about the huge costs involved? Are the efforts to keep nuclear waste safe for thousands of years worthy of all the risks involved? In this regard there are credible and serious concerns that whereas the present generation may get the benefit of electricity from nuclear power, the future generations have to deal with all the risks and costs associated with the spent fuel. Is this fair or socially responsible?….

The exorbitant capital and operating costs, cost and time over runs, subsidies and hidden costs in the Indian context of nuclear power plants have also been quietly ignored by IEP. International studies have established that if we take into account the true costs associated with disposing nuclear waste, decommissioning the worn out plants, and insuring reactors against catastrophic failures into objective account building nuclear plants in a competitive electricity market is not simply economical…..

There seems to be growing skepticism even to finance the nuclear power. “Too many well known banks that otherwise have taken laudable steps towards sustainability, are still investing heavily in the nuclear industry, putting the world on the wrong energy track. Sustainable banking and financing nuclear energy are simply incompatible” said Johan Frijns, BankTrack coordinator…..”. http://www.nl-aid.org/continent/south-asia/nuclear-emergency-in-japan-lessons-for-india/

November 27, 2011 - Posted by Christina Macpherson | general