Holtec International’s Executive Chairman and CEO, Kris Singh, is optimistic that PM Narendra Modi’s next trip to the US would result in a nuclear agreement that will enable India to buy their tiny nuclear reactor in sizable quantities. Singh emphasised that the corporation is now unable to employ Indian engineers for employment on reactor expansion in the US due to regulations.
Gist On Nuclear Agreement Between PM Modi And President Biden
A top Indian-American executive expressed hope that President Joe Biden and Prime Minister Narendra Modi would reach an agreement on a nuclear agreement that would strengthen mutually beneficial relationships on nuclear and solar technology in order to help meet India’s expanding energy needs and tackle pollution issues. Prior to Prime Minister Modi’s first official state visit to the US next week, Holtec International Executive Chairman and CEO Kris Singh made the comments.
“We have created a tiny nuclear reactor here, and we are now prepared to sell it on the open market. It is my hope that we will give India a sizable amount of this reactor. The scenery will alter as a result. In an exclusive interview with PTI conducted at the sizable Krishna P Singh Technology Campus in this city, Singh said, “I get enthusiastic when I address it because it really is a great answer.
In the realm of carbon-neutral power generation, specifically in the areas of business-oriented nuclear and solar energy, Holtec International is a multifaceted energy technology firm.
Singh emphasised the potential for increased cooperation between India and the US in the energy sector, especially nuclear technology that can assist the most populous nation in the world meet its energy needs while at the same time dealing with issues related to contaminants in its metropolitan areas and ensuring clean air for its citizens.
Singh, a renowned inventor with 170 US patents awarded, many more granted abroad, and numerous more pending, claimed to have created the miniature nuclear reactor 10–12 years ago. The statement that this is a “comprehensive solution” emphasises that “we have created the technology for utilising solar energy in conjunction with nuclear plants to generate more power than solar alone could do.”
While all power plants needed water to function, Singh pointed out that his company’s nuclear will run entirely on air.
“You can utilise this reactor if you need to generate electricity in a dry, arid region of Rajasthan. While producing power, it does not pollute. Across the nation, we require that,” Singh added.
Singh stressed that India has “a wonderful gift of the sun” and mentioned that Prime Minister Modi has called for ‘One Sun, One World, One Grid’ to increase the feasibility of solar power.
He continued, “India is abundant with much solar energy,” and expressed his hope that the government of Modi “functions out a nuclear agreement with the United States in order that it becomes achievable for us to supply the technology to India.” He said that due to the “very strict” limits on nuclear technology, he is now unable to achieve this. Nuclear and solar energy can be used to clean up the surroundings in India in a variety of ways.
Singh stressed a critical need for cleaning up the air in India as the environment degraded over time as the country undertook its incredible growth journey. This would need converting to solar and nuclear energy, two clean energy options. Singh emphasised that his business cannot employ any Indian engineers for employment on reactor development in the US due to limitations imposed by 10 Code of Federal Regulations Part 810.
We cannot enter into agreements to construct plants there, and my goal is to erect 100 Small Modular Reactors (SMR-160) during the course of the next 15 years. He indicated optimism that the government of Modi and President Biden will reach an agreement that will allow India to be authorised under Part 810, saying, “I cannot construct one without the agreement.
He said that the US President and his administration could carry out this action without the consent of Congress.
“It restricts trade between the US and India. We can act as a bridge to further solidify ties between India and the US, he remarked.
Singh, who immigrated to the United States from India approximately 55 years ago, founded Holtec International in 1986 and grew it into a multinational corporation with operations across five continents. In order to boost employment and the local economy, Singh spent USD 312 million building the expansive Krishna P. Singh Technology Campus on the Delaware River in Camden, New Jersey.
The historic New York Shipyard, which is now a significant cargo port run by the South Jersey Port Authority, was previously located on a plot of land in south Camden that is now home to the technological campus. According to the company’s website, Holtec International set up the Krishna P Singh Technology Campus in an effort to restore South Jersey’s “faded glory as a bastion for industrial production and, in a greater measurement to help revitalise America’s shrunken foundation for heavy manufacturing.” The site includes two sizable manufacturing facilities, a corporate engineering centre with seven stories, a facility for system testing (without nuclear fuel), and support facilities like a training centre, a lab for non-destructive testing, and corporate housing.
Singh praised India’s economic progress and predicted that the country might soon rank among the three largest economies in the world, saying he is “at ease it will be an excellent time” for India.
He stated that the “number one objective” must be to end poverty, which India is doing exceptionally well at.
Singh stressed the vital necessity of skill development for the nation’s sizable young population. If young people are not trained, they are not productive and become a “burden” and “for the extent of the country, it does not have a sufficient labour pool.” India currently has a fantastic chance due to its youthful population. Train individuals and employ them, he advised. Singh emphasised that US policy towards India has changed since the 1970s. Today is a new day. And I believe that Americans view India as a friend. We ought to advance from there.
