India Invests US$595 Million in International Reactor Project To Combat Global Warming
NEW DELHI -- India is investing nearly US$600 million in an international project to create an experimental fusion reactor aimed at combating global warming by providing an alternative to fossil fuels, the government said Thursday.
The Cabinet approved the 25 billion rupee (US$595 million; euro437 million) investment Thursday, enabling India to take part in the International Thermonuclear Experiment Reactor, the Cabinet spokesman said in a statement.
India will join the United States, the European Union, China, Russia, Japan and South Korea in the US$12.8 billion (euro10 billion) project to build the experimental reactor in southern France with hopes it could revolutionize global energy use for future generations.
Participants expect the reactor to be operational by 2040.
"Considering India's large energy needs in the future, our gaining technological capability in fusion energy will be of considerable long-term benefit," the statement said.
Some 11.29 billion rupees (US$268 million; euro197 million) of India's investment in the project will be spent abroad while the rest will be used inside India.
India's fusion energy capabilities will be enhanced by its involvement in the project, the statement said.
Fusion energy involves recreating the sun's power to produce a clean, cheap and limitless energy supply. Project officials estimate fusion has the potential to provide 10 percent to 20 percent of the world's energy by the end of the century.
Source: Associated Press