President Nicolas Sarkozy of France and Prime Minister Manmohan Singh of India signed a substantial civil nuclear energy deal during a recent state visit to India by Mr. Sarkozy.
Under the terms of the agreement, India will build two French reactors, each worth $10 billion, in Maharashtra, one of its most industrialized states. India already has 22 reactors in use and has ambitious plans to expand its nuclear energy sector. Over the next 15 years, the Indian nuclear market is estimated to reach $150 billion.
After the United States, France is the world’s second largest producer of nuclear energy. It is competing with the United States and Russia to become the premier provider of nuclear energy technology to developing markets in India and China.
As fossil fuel prices rise and supply constraint concerns grow, France is predicting a “resurgence” in the use of nuclear power for energy production. Read more…