India and France have recently signed an agreement demonstrating their commitment to collaboration in the field of small modular reactors (SMRs) and advanced modular reactors (AMRs).
According to a report from the World Nuclear Association, the global demand for SMRs could reach approximately 20 gigawatts by 2040, driven by their potential for lower cost and quicker deployment compared to traditional nuclear reactors.
France, a leader in nuclear technology, and India, with its ambitious plans for clean energy, aim to leverage their respective capabilities to innovate and expand their energy portfolios. This collaboration is seen against a backdrop of a global shift towards reducing carbon emissions. In 2022, nuclear power accounted for about 10% of global electricity supply, with expectations of an increased share as countries pivot from fossil fuels.
The strategic collaboration between India and France also ties in with the broader goal of energy security. As both nations strive to ensure a sustainable and reliable energy supply, SMRs and AMRs are key components in their long-term energy strategies. A study by the International Energy Agency emphasizes that diversifying energy sources is crucial in mitigating geopolitical risks and ensuring resilience against market volatility.
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