In a major strategic move, Adani Power on Thursday announced the formation of a new atomic energy subsidiary to enter India’s nuclear power segment.
The new entity, Adani Atomic Energy Limited, has been incorporated as a wholly owned subsidiary with an initial investment of Rs 5 lakh. The unit will focus on generating, transmitting, and distributing electricity derived from nuclear or atomic energy.
Shares of Adani Power Limited closed at Rs 150.85 per scrip on Wednesday, up Rs 1.75 (+1.17%)
The development comes 2 months after Parliament passed the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill. The legislation opened the nuclear sector to private participation, marking a significant shift in India’s energy policy. Until now, the sector was tightly controlled by the State.
Earlier, a media platform had reported that Adani Power plans to build 30 GW of nuclear power capacity. The company aims to replace its entire thermal power portfolio with nuclear energy in the coming years.
“The plan is to replace the entire thermal capacity with nuclear. The company will close down the thermal plants as and when the PPAs (power purchase agreements) are finished,” people aware of the matter told ET earlier. The report added that the company may partner with an international firm for technology expertise.
In Budget 2026-27, the Centre proposed extending the exemption on basic customs duty for goods required for nuclear power projects until 2035, irrespective of plant capacity. “I propose to extend the existing basic customs duty exemption on imports of goods required for Nuclear Power Projects till the year 2035 and expand it for all nuclear plants irrespective of their capacity,” Finance Minister Nirmala Sitharaman said in her Budget speech.
The Finance Ministry allocated Rs 24,123.92 crore to the Department of Atomic Energy, including Rs 9,966.41 crore for capital expenditure.
The SHANTI Act consolidated and amended the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010. It enables private sector and state government participation, which was earlier restricted. The law also introduced a graded liability framework without reducing compensation for victims.
India aims to reach 100 GW of nuclear power capacity by 2047. The current installed capacity stands at 8.7 GW. The latest Economic Survey described the SHANTI Act as a key step toward improving energy security and managing clean power intermittency.
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