Adani Group Sets 10 GW Nuclear Target by 2035, Pending Government Approvals

Adani Group announced a target of 10 gigawatts of nuclear power capacity by 2035 through its Adani Atomic Energy unit. Gautam Adani stated the goal at the conglomerate's annual general meeting on Wednesday. "Our entry into nuclear energy through Adani Atomic Energy is another confident step towards securing India's long-term energy future," Adani said.

ZeroHedge reported that the group has identified land for the project and is in talks with the Uttar Pradesh state government on a public-private partnership to build eight small modular reactors of 200 megawatts each. India's current installed nuclear capacity stands at 8.8 GW, all operated by the state-run Nuclear Power Corporation of India Limited.

A government panel has set a national goal of 100 GW by 2047, which would require an estimated 19.28 trillion Indian rupees, or $204 billion, in cumulative capital.

If the target is met, Adani Group would rank as India's third-largest nuclear operator behind NPCIL and NTPC Limited. Reliance Industries is also considering investments in the sector following the opening to private capital.