Adani Power enters nuclear energy with new subsidiary
What's the story
Adani Power has announced the establishment of a new atomic energy division, Adani Atomic Energy Limited. The wholly-owned subsidiary will be responsible for generating, transmitting, and distributing electricity from nuclear energy sources. The company has made an initial investment of ₹5 lakh in this new venture.
Expansion strategy
Ambitious plans for nuclear power capacity
As India's largest private sector power producer, Adani Power has ambitious plans to expand its nuclear power capacity. The company intends to set up 30GW of nuclear power capacity in the coming years. This move is part of a broader strategy to replace its entire thermal capacity with nuclear energy.
Transition plan
Transitioning from thermal to nuclear energy
The transition from thermal to nuclear energy will be gradual, with Adani Power planning to shut down its thermal plants as and when their power purchase agreements (PPAs) expire. The company is also considering a partnership with an international firm for technology transfer, which would further bolster its capabilities in the nuclear power sector.