Adani wants to be a major player in India’s nuclear sector by 2035, with a target of 10 GW

The Adani Group announced its plans to become a major player within 'India's nuclear energy' on Wednesday. It said it would 'build' up to 10 gigawatts by 2035, making it India's largest private sector operator.

Gautam Adani said, at the annual general meeting of the group, that "our entry into nuclear power through Adani Atomic Energy represents another confident step in securing India’s long-term future energy."

India is eager to increase its use of clean energy and last year it opened up the nuclear sector to both domestic and foreign firms in the private sector. It plans to increase nuclear capacity from 8 gigawatts to 100 gigawatts in 2047.

The state-run Nuclear Power Corp of India aims for 50 GW of power, while NTPC, the top coal plant operator in India, aspires to 30 GW of nuclear power.

Adani is likely to be the third largest operator of nuclear power plants. Tata Power, Reliance Industries and other private companies are also interested in investing.

The Adani Group has identified land but not disclosed details about the project, such as where it might be located.

Adani stated that the data centre business of the conglomerate is on track to build three gigawatts (GW) by 2030. The group has also increased its pipelined?natural-gas projects to meet India’s growing demand for gas.

The U.S.-Israeli war with Iran has caused global shipping restrictions, which have disrupted India's gas supplies.

Adani Enterprises shares, the flagship company of the group, rose by 2.3% on Tuesday. Sethuraman NR, Abinaya V and Kashish Tandon contributed to the reporting; Kashish Tandon also reported from Bengaluru. Rashmi aich and Edwin Gibbs edited.

(source: Reuters)