WASHINGTON, D.C.—India signed the Convention on Supplementary Compensation for Nuclear Damage today in Vienna, Austria, at the headquarters of the International Atomic Energy Agency. The convention establishes an international framework of liability coverage if a nuclear accident occurs. India’s signing brings the number of convention signatories to 14 nations. Four nations have signed and ratified the convention—Argentina, Morocco, Romania and the United States. The following statement on India’s signing is from the Nuclear Energy Institute’s president and chief executive officer, Marvin Fertel.
“The U.S. nuclear energy industry welcomes India’s signing of the Convention on Supplementary Compensation. This is an important multilateral treaty to foster commerce in nuclear energy technology that can help India and other nations reliably meet rising electricity demand with safe, advanced-design facilities that do not emit greenhouse gases during electricity production.
“India has an enormous need for electrification, and nuclear energy is an important component of India’s planned energy mix. India’s power demand is forecast to exceed 950,000 megawatts in 20 years, compared to 150,000 megawatts today. To meet these requirements, India plans to add 60,000 megawatts in new nuclear generating capacity by 2030, a 15-fold increase from 4,100 megawatts today.
“U.S. companies are interested in helping India meet its ambitious new electric generation targets. India would benefit from the world’s most advanced, safest technologies, and U.S. companies would benefit from export opportunities that create jobs for Americans.”