Sponsored by Tennessee Republican Lamar Alexander and Virginia Democrat Jim Webb, the bill would provide $100 billion in loan guarantees for carbon-free electricity projects, adding to the existing $47 billion loan guarantee program.
Although the additional loan guarantees would not be limited to nuclear power, the nuclear industry would likely be the major recipient of the extra money because it is one of the most established low carbon energy sources.
The lawmakers’ energy bill would cost up to $20 billion over 10 years.
In addition to the loan guarantees, the bill would provide $750 million annually for 10 years to research and development of: carbon capture and storage, advanced biofuels, batteries for electric cars, solar power and recycling used nuclear fuel.
Says 10 units will come up by the year 2015 or 2016
Construction will be at 24 places and new projects would begin at about eight sites.
“In the next two-and-half to three years, an additional 3,160 MW will be produced. With this, our nuclear power generation capacity will cross 7,000 MW.” Four more units would be ready in five years from now.
With international civil nuclear cooperation, 10 units would come up by the year 2015 or 2016. Two units, in collaboration with Russia, were planned in Koodankulam, two with French collaboration at Jaitapur and similarly in Haripur, Gujarat and Orissa.