Jaitapur Nuclear Power Plant

Jaitapur Nuclear Power Project is a new proposed 9900 MW power project of Nuclear Power Corporation of India (NPCIL) at Madban village of Ratnagiri district in Maharashtra.

It will be the largest nuclear power generating station in the world by net electrical power rating once completed.

On December 6, 2010 agreement was signed for the construction of first set of two third-generation European Pressurized Reactors/Evolutionary Power Reactors (EPR) and the supply of nuclear fuel for 25 years in the presence of French President Nicolas Sarkozy and Indian Prime Minister Manmohan Singh.

French nuclear engineering firm Areva S.A. and Indian state-owned nuclear operator Nuclear Power Corporation of India signed this multi billion valued agreement of about $9.3 billion. This is a general framework agreement along with agreement on 'Protection of Confidentiality of Technical Data and Information Relating to Nuclear Power Corporation in the Peaceful Uses of Nuclear Energy' was also signed.

The general framework agreement is a list of the scope of work, terms and conditions of plant life, guarantees and warrantees, guaranteed plant load factor. This agreement is quite important since life of the reactors is anticipated at 60 years. This general framework agreement will also include financial aspect of the project including the terms and conditions of funding, debt funding. Etc..

A consortium of French financial institutions will finance this project as a loan. Both French and Indian government will give sovereign guarantee for this loan. The extent of guarantee will depend on what portion of the cost the French credit will cover. The Organization for Economic Co-operation and Development (OECD) will govern the interest rates and other terms of agreement. Interest rates and other terms are under discussion.

REACTORS INFORMATION:

Reactors planned: 6 x 1650 MW

Reactor types: European Pressurized Reactor/Evolutionary Power Reactor

Reactor suppliers: France Areva