Saturday, March 4 2006 10:18 Hrs (IST) - World Time -

Washington: Expressing concern over the Indo-US nuclear agreement, the Worldwatch Institute has said that the 'security risks' inherent in the deal outweigh energy sector benefits and makes it 'tough' to deny nuke technology to Iran and North Korea.

"It's going to be tough to argue that Iran and North Korea should be denied nuclear technology while India which has failed to even join the NPT is given the same on a silver platter," Worldwatch President Christopher Flavin said releasing the 'State of the World Report 2006'.

"It would be ironic if Congress were to support this agreement, given the scrutiny that has been given to the Dubai ports deal," he said.

Noting that security vulnerabilities exposed by undermining non-proliferation were 'unacceptable', Flavin said, "Spending the same money on new, clean energy options will provide energy without increasing the risk that terrorists will get their hands on nuclear arsenals." "Renewable energy resources such as solar, wind, and biomass are far more practical energy options for China and India," the report said.

"Both countries have vast land areas that contain a large dispersed and diverse portfolio of renewable energy sources that are attracting foreign and domestic investment as well as political interest", it said.

Calling nuclear sector a 'dying' industry, Flavin said the high-cost nuclear power has "limited ability" to meet the the energy needs of both India and the US. "Nuclear power is a dying industry and this latest effort to prop it up with Government support is unlikely to overcome growing resistance by Wall Street investors and the bond market," he said.

The Institute has pointed out that nuclear power provides only 3 per cent of India's electricity today and even if the 30 new nuclear plants the Government hopes to build are actually completed over the next two decades nuclear energy would still provide only 5 per cent of the country's electricity and 2 per cent of its total energy.

Further it is being pointed out that globally, the nuclear construction business has been in decline for more than two decades.

Worldwide, nuclear power is growing at an average rate of less than 1 percent per year. By contrast, renewable energy wind, solar and biofuels is on a growth surge, averaging annual expansion rates if 25-35 per cent.

Total investment in the world's renewable energy sector reached US$ 30 billion in 2004, according to Renewable 2005: Global Status Report.