Adani Group plans to build 10 gigawatts of nuclear power capacity in India by 2035

NEW DELHI/BENGALURU: Adani Group said on Wednesday it plans to build up to 10 gigawatts of nuclear power capacity in India by 2035, setting out its ambition to become a major private-sector player in the country’s nuclear energy market.

Gautam Adani, chairman of the conglomerate, said at the group’s annual general meeting that the company’s entry into nuclear energy through Adani Atomic Energy was part of its plan to support India’s long-term energy needs.

The target could make Adani the biggest private-sector operator in India’s nuclear power industry.

India opened its nuclear generation sector to domestic and foreign private companies last year as part of efforts to expand clean energy capacity.

The country aims to increase nuclear power capacity to 100GW by 2047 from about 8GW at present.

State-run Nuclear Power Corp of India, currently the only operator of nuclear plants in the country, is targeting 50GW of capacity.

NTPC, India’s largest coal-fired power producer and also state-run, is aiming for 30GW of nuclear capacity.

If Adani reaches its stated target, it is likely to become the third-largest nuclear power operator in India after Nuclear Power Corp of India and NTPC.

Other private companies, including Tata Power and Reliance Industries, are also exploring investments in the sector.

Adani Group said it had identified land for the nuclear projects but did not disclose the project locations or further development details.

The group also said its data centre business is on track to build 3GW of capacity by 2030.

Adani is also expanding its piped natural gas projects to meet rising gas demand in India.

India’s gas supplies have faced disruption due to global shipping constraints after the US and Israel’s war with Iran halted traffic through the Gulf and the Strait of Hormuz.

Shares of Adani Enterprises, the group’s flagship company, rose 2.3% on Wednesday.