Larsen & Toubro (L&T) on Friday said it has entered into a pact with US-based Clean Core Thorium Energy (CCTE) for providing efficient solutions in clean energy globally.
The partnership aims to accelerate nuclear power deployment globally, particularly in developing countries which require large amount of carbon-free electricity for their growth.
"Larsen & Toubro...announced the signing of a Memorandum of Understanding (MoU) to collaborate on providing efficient solutions globally in clean energy through CCTE’s patented ANEEL (Advanced Nuclear Energy for Enriched Life) fuel," the company said in a filing to BSE.
ANEEL is a nuclear fuel that combines thorium and high assay low-enriched uranium. It's designed to be used in pressurized heavy water reactors, such as CANDU (Canadian deuterium-uranium) reactors.
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This fuel is expected to significantly reduce life-cycle operating costs and the waste produced (by over 85 per cent while improving safety due to its Accident Tolerant Fuel characteristics).
Also, the nuclear fuel will offer added advantage of energy security by large-scale deployment of Thorium and reduce uranium consumption.
"The ANEEL fuel will promote clean energy, non-proliferation, enhanced safety, decarbonisation of hard-to-abate industries and circular economy," the company said.
"In view of increasing demand for nuclear energy across the globe, we are in the process of identifying new opportunities to offer ‘One Stop Solutions’ to our customers. Establishing a world-class supply chain for ANEEL fuel, by leveraging L&T’s manufacturing prowess, is a step in that direction. L&T will support CCTE within the purview of the Indian legal framework," Anil Parab, Whole-time Director & Sr Executive Vice President, Heavy Engineering and L&T Valves said.
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