Gautam Adani has now entered the nuclear power sector as well. In a statement sent by Adani Power to stock market authorities, it was announced that a wholly owned subsidiary of Adani Power named Adani Atomic Energy Limited (AAEL) has been formed with an initial investment of ₹5 lakh, which will generate electricity from nuclear power and distribute it across the country.
Notably, just two months ago, the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI in short) bill was passed in Parliament. This opened the doors of the country's nuclear power sector to private organisations. Following this, the Adani Group's decision is providing new direction in the country's nuclear power market, claim market experts.
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Multiple sources, who wished to remain unnamed, have claimed that the group is considering making the entire energy business nuclear power-dependent in the coming days. For this purpose, they may enter into technology agreements with one or more foreign organisations. The Adani Group may already be on the path to building the country's largest nuclear power facility by constructing a 30-gigawatt capacity nuclear power plant, according to multiple quarters.
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However, this nuclear journey of the Adani Group has faced fierce criticism from opponents from the very beginning. Referring to this regulatory filing by the Adani Group, Congress spokesperson Jairam Ramesh claimed today that the Centre already knew that the Adani Group wanted to enter this business. That's why the SHANTI bill was hastily brought to Parliament and passed, so that the favoured entity could be given more advantages. Now it seems the real meaning of SHANTI is Shri Adani's Nuclear Tech Initiative. However, neither the Adani Group nor the Centre made any comment on this matter today.
Notably, the country's current nuclear power capacity is 8.8 gigawatts, which the Centre aims to increase to 32 gigawatts in the next 10 years.
