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Kudankulam nuclear power plant – Russians want to avoid liability

India’s Kudankulam Nuclear Power Plant – Caveat Emptor Oil Price.com, By John Daly, 07 August 2012 As India’s nationwide power outage last week showed, the country needs new energy resources – fast.
And New Delhi sees nuclear power as a shortcut to alleviating its energy shortages, adding to its six current nuclear power plants (NPPs) containing 20 reactors which generate 4,780 megawatts, an additional seven reactors are expected to generate an additional 5,300 megawatts.

The poster child for this expansion is the $2.5 billion, Kudankulam NPP in Tamil Nadu state, containing six 1,200 megawatt and two 1,000 megawatt reactors.

Despite sustained civil protests during its construction, Nuclear Power Corporation of India Limited (NPCIL) Chairman and Managing Director K.C. Purohit told the media, “Our inspection (of the reactor pressure vessel) is almost complete,” he said from Mumbai. “We will submit our observations and reports to a committee of the Atomic Energy Regulatory Board (AERB) and load the fuel based on its decision,” adding that “the day is not far off” for the nuclear fuel rod assemblies to be loaded into the reactor pressure vessel beginning  in mid-August.  But this sunny picture has recently been somewhat clouded by the increasing skepticism of Indian Prime Minister Manmohan Singh, who is now querying the Department of Atomic Energy about liability and who will pay if there is a mishap at the Kudankulam NPP. It doesn’t help nuclear proponents that Prime Minister Singh is also India’s Minister for Atomic Energy.

Needless to say, everyone involved with the Kudankulam NPP has been furiously backpedaling from the issue of liability…..  All of this loose talk about liability has officials at Atomstroieksport, the Russian Federation’s nuclear power equipment and service export monopoly, increasingly worried. Its not like business is booming – in 2011 the company’s net losses doubled from their 2010 rate to $469 million. So, hardly surprisingly, Russian Atomstroieksport officials, who also built Iran’s controversial Bushehr NPP, have their fingers crossed that the Indian government will not saddle them with liability for the Kudankulam NPP, which could cause yet more oceans of red ink to wash across their books……  http://oilprice.com/Alternative-Energy/Nuclear-Power/Indias-Kudankulam-Nuclear-Power-Plant-Caveat-Emptor.html

August 8, 2012 - Posted by Christina Macpherson | India, Legal