Japan’s worst nuclear accident in at least 33 years has compelled China and India to review plans for atomic energy that were set to provide a boon for suppliers including Areva SA (CEI) and General Electric Co. (GE)
The potential meltdown at a nuclear plant struck by Japan’s record temblor may be “a big dampener” on India’s program, Shreyans Kumar Jain, chairman of the Nuclear Power Corp. of India, said in Mumbai. The accident may become a factor in the drafting of China’s energy plans, Xie Zhenhua, vice chairman of the National Development and Reform Commission, said in Beijing.
India plans to spend $175 billion by 2030 on nuclear generation while China is adding 27 reactors in five years as the two most-populous nations seek cleaner energy sources to propel economic growth. Japan’s accident, a month shy of the 25th anniversary of the Chernobyl disaster, may reignite debate about the safety of atomic energy, Nuclear Power’s Jain said.
“The Japan accident has created a very, very tough situation for India, actual implementation of nuclear power projects will now certainly take a backseat,” said Debasish Mishra, Mumbai-based senior director at Deloitte Touche Tohmatsu. “It will be very difficult to sell the idea of nuclear power to people for any political party after the Japan disaster.”
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