Nuclear power: Approval turns all eyes to India

The ink was barely dry on the approval of an exception for India by the international Nuclear Suppliers Group, when the race to be part of the game was on. India declared the goal to contribute over 40,000 megawatts of nuclear power by 2020. Estimates of the size of the opportunity vary, from some US$40 billion to more than US$100 billion, and no one wants to be left out.

After pushing hard to have the deal approved internationally, the US government had to return to the US Congress for approval. The US House of Representatives moved quickly to approve the deal voting 298 for, and 117 against.

Within three weeks of approval (although negotiated prior), even before the US Senate could take action, the government of France signed a nuclear cooperation agreement to supply reactors and fuel. Areva, EdF and Alstom all rushed into the queue. Areva announced plans to ship two European pressurized reactors, with the hope of sending more.

Wayne Rogers is a senior adviser in the international law firm of Sonnenschein Nath & Rosenthal, where he specializes in international trade and cross-border transactions. He may be reached at +1-202-408-6478 or wrogers@sonnenschein.com.