Blab Business
Adani Group Announces Entry into Nuclear Power, Aiming for 10 GW by 2035
At its 2026 annual general meeting, Gautam Adani, chairman of the Adani Group, announced that Adani Enterprises will launch a new subsidiary, Adani Atomic Energy Ltd, to develop nuclear power plants in India. The company said it will invest roughly 2 trillion rupees (about $21 billion) over the next five years to raise its overall power generation capacity from 18 GW to 45 GW, with 10 GW earmarked for nuclear projects.
The announcement follows a policy shift by the Indian government that opened the nuclear sector to private participation. In 2025, the Ministry of Atomic Energy announced a plan to increase India’s nuclear capacity from about 9 GW to 22 GW by 2032, and the Adani Group said it would be the first private company to build and operate a commercial nuclear plant.
According to reports, Adani has already identified a potential site in Uttar Pradesh and is in preliminary talks with state officials. The company’s statement said the project would create local construction jobs, train a new cohort of nuclear engineers, and strengthen domestic supply chains.
India’s current nuclear fleet consists of 25 reactors with a total installed capacity of 8,880 MW, which produced 56.7 TWh in FY 2024‑25, about 3 % of the country’s total electricity generation. The majority of India’s power grid remains coal‑based, and the government has been promoting renewable sources such as solar and wind. However, the intermittent nature of renewables has led to a search for reliable baseload options.
Adani’s move is positioned as a response to that need. The company’s spokesperson said that nuclear power would provide “clean, virtually emission‑free, always‑on” electricity, helping to reduce air pollution in northern India and support heavy industry and hospitals.
The Adani Group, founded in 1988, has diversified interests in ports, logistics, mining, natural gas, and power. As of June 2026, the conglomerate’s market capitalisation exceeded $200 billion. Gautam Adani, born in 1962, is one of India’s richest individuals, with a net worth of $89.6 billion.
The announcement comes after the Adani Group’s stock had recovered from a multi‑year decline that followed allegations of accounting irregularities and market manipulation by a short‑seller firm in 2023. A Supreme Court ruling in 2024 cleared the group of those allegations.
The nuclear venture will be subject to India’s Atomic Energy Act and the Civil Liability for Nuclear Damage Act. The Ministry of Atomic Energy will oversee licensing, safety, and regulatory compliance. The Adani Group said it would work within the framework of the 2005 U.S.–India Civil Nuclear Agreement, which allows India to access international nuclear technology under IAEA safeguards.
Industry analysts note that the entry of a major private player could accelerate India’s nuclear programme, but they also point out that the first private‑sector nuclear tender launched in 2024 faced delays over cost and funding issues.
As India moves toward a 100 GW nuclear target by 2047, the Adani Group’s 10 GW plan is a significant portion of that goal. The company’s strategy aligns with the government’s broader energy security agenda, aiming to reduce dependence on coal and meet growing demand from an urbanising and industrialising population.
The next steps for Adani Atomic Energy will include securing site approvals, obtaining environmental clearances, and negotiating financing. The company’s progress will be monitored by the Atomic Energy Regulatory Board and the Ministry of Commerce, which will oversee any international procurement.
The announcement was made in the presence of shareholders and industry observers. No immediate regulatory decision has been announced, and the company has not yet filed a formal application for a nuclear license.
The move is expected to influence India’s power sector dynamics, potentially prompting other private firms to explore nuclear opportunities. It also raises questions about the pace of regulatory approvals and the availability of skilled personnel.
The Adani Group’s nuclear initiative will be closely watched by investors, policymakers, and environmental groups as India seeks to balance energy growth with climate commitments.
The announcement follows a policy shift by the Indian government that opened the nuclear sector to private participation. In 2025, the Ministry of Atomic Energy announced a plan to increase India’s nuclear capacity from about 9 GW to 22 GW by 2032, and the Adani Group said it would be the first private company to build and operate a commercial nuclear plant.
According to reports, Adani has already identified a potential site in Uttar Pradesh and is in preliminary talks with state officials. The company’s statement said the project would create local construction jobs, train a new cohort of nuclear engineers, and strengthen domestic supply chains.
India’s current nuclear fleet consists of 25 reactors with a total installed capacity of 8,880 MW, which produced 56.7 TWh in FY 2024‑25, about 3 % of the country’s total electricity generation. The majority of India’s power grid remains coal‑based, and the government has been promoting renewable sources such as solar and wind. However, the intermittent nature of renewables has led to a search for reliable baseload options.
Adani’s move is positioned as a response to that need. The company’s spokesperson said that nuclear power would provide “clean, virtually emission‑free, always‑on” electricity, helping to reduce air pollution in northern India and support heavy industry and hospitals.
The Adani Group, founded in 1988, has diversified interests in ports, logistics, mining, natural gas, and power. As of June 2026, the conglomerate’s market capitalisation exceeded $200 billion. Gautam Adani, born in 1962, is one of India’s richest individuals, with a net worth of $89.6 billion.
The announcement comes after the Adani Group’s stock had recovered from a multi‑year decline that followed allegations of accounting irregularities and market manipulation by a short‑seller firm in 2023. A Supreme Court ruling in 2024 cleared the group of those allegations.
The nuclear venture will be subject to India’s Atomic Energy Act and the Civil Liability for Nuclear Damage Act. The Ministry of Atomic Energy will oversee licensing, safety, and regulatory compliance. The Adani Group said it would work within the framework of the 2005 U.S.–India Civil Nuclear Agreement, which allows India to access international nuclear technology under IAEA safeguards.
Industry analysts note that the entry of a major private player could accelerate India’s nuclear programme, but they also point out that the first private‑sector nuclear tender launched in 2024 faced delays over cost and funding issues.
As India moves toward a 100 GW nuclear target by 2047, the Adani Group’s 10 GW plan is a significant portion of that goal. The company’s strategy aligns with the government’s broader energy security agenda, aiming to reduce dependence on coal and meet growing demand from an urbanising and industrialising population.
The next steps for Adani Atomic Energy will include securing site approvals, obtaining environmental clearances, and negotiating financing. The company’s progress will be monitored by the Atomic Energy Regulatory Board and the Ministry of Commerce, which will oversee any international procurement.
The announcement was made in the presence of shareholders and industry observers. No immediate regulatory decision has been announced, and the company has not yet filed a formal application for a nuclear license.
The move is expected to influence India’s power sector dynamics, potentially prompting other private firms to explore nuclear opportunities. It also raises questions about the pace of regulatory approvals and the availability of skilled personnel.
The Adani Group’s nuclear initiative will be closely watched by investors, policymakers, and environmental groups as India seeks to balance energy growth with climate commitments.
