As consultations on the draft SHANTI (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India) rules wrap up, the focus must shift to financing, the single factor that determines whether reactors get built. The core hurdles are familiar: massive upfront capital, decade-long timelines, and complex supply chain risks spanning fuel enrichment, manufacturing and regulatory approvals.
Because capital costs dominate the final price of electricity, budget overruns are make-or-break. As setbacks from Westinghouse's bankruptcy to delays at Britain's 3.2 GW nuclear power station Hinkley Point C demonstrate, the central threat isn't legal liability but cost overruns landing on balance sheets that cannot absorb them. The decisive question, then, is simple: who carries the financial hit when costs inevitably surge?
