Aug. 8 (Bloomberg) -- Tata Power Co., India's third-biggest utility, may build nuclear power plants if the government changes rules, Chairman Ratan Tata said.

``Tata Power has alignment with some major nuclear equipment suppliers and is ready to go,'' Tata told shareholders at a meeting in Mumbai today. ``There is considerable homework that has been done.''

The Indian company may partner Areva SA, the world's largest builder of nuclear plants, for projects, he said. Tata Power plans to spend 26 billion rupees ($641 million) this year on adding new power capacity, Tata said.

The Mumbai-based company plans to add more than 9,350 megawatts of capacity to gain from rising electricity demand in Asia's fourth-largest economy. India's economic growth of more than 8 percent in the past four years has caused power demand to exceed supply, leading to blackouts.

India has set a target of 40,000 megawatts of nuclear power capacity by 2020.

To contact the reporter on this story: Archana Chaudhary in Mumbai at achaudhary2@bloomberg.net.

Last Updated: August 8, 2007 08:43 EDT