MUMBAI: With power demand expected to surge due to artificial intelligence, data centres, semiconductors and advanced manufacturing, Maharashtra is positioning itself as a future hub for nuclear energy and has invited American companies to invest in the sector.Chief minister Devendra Fadnavis on Wednesday said renewable energy alone would not be sufficient to meet the long-term needs of a fast-growing industrial economy and stressed that nuclear power would play a critical role in ensuring stable, carbon-free electricity supply. Speaking at a meeting organised by the US Nuclear Executive Mission in India, involving the Nuclear Energy Institute and the US-India Strategic Partnership Forum, Fadnavis said Maharashtra was prepared to lead India’s nuclear energy transition.“Maharashtra is ready to lead the transformation in the nuclear energy sector,” Fadnavis said, adding that the state was keen to move beyond being merely a buyer of imported reactors and instead emerge as a centre for nuclear manufacturing, technology partnerships and exports.The CM said Maharashtra, with a $660-billion economy and the largest share of foreign investment in the country, was witnessing rapidly growing electricity needs. Nearly 60% of India’s data centre capacity is concentrated in Mumbai and Navi Mumbai, he said, adding that sectors such as AI, logistics and semiconductor manufacturing would sharply raise power demand in coming years.State officials said Maharashtra’s present electricity demand of 31 GW is projected to rise to 42 GW by 2030. While the state is expanding solar, battery storage and green hydrogen projects and aims to source 65% of its energy from renewables by 2035, officials said nuclear energy was emerging as the next major focus to provide uninterrupted baseload power.Fadnavis assured potential investors that the state government would support nuclear projects with industrial land, infrastructure, skill development, research collaboration and manufacturing clusters, along with possible subsidies and concessions for early-stage industries.The chief minister also said Maharashtra was keen to pioneer small modular reactors (SMRs), describing them as compatible with the needs of future industrial clusters and large power consumers such as steel, cement and fertiliser industries as well as data centres.Mahagenco managing director Radhakrishnan B said the state-run power producer has set a target of generating 7,000 MW of nuclear power over the next two decades and is examining SMR technology as part of its future energy strategy.Representatives of American nuclear and energy companies attending the meeting highlighted investment opportunities in India. Maria Korsnick, president and CEO of the Nuclear Energy Institute, said India and Maharashtra offered significant opportunities due to their skilled workforce and industrial capabilities.
