Adani Power evaluates nuclear technologies, awaits policy clarity

NEW DELHI: India’s Adani Power’s plans to develop nuclear power projects are contingent on the Indian government finalising rules to allow private-sector participation, company executives said on a post-earnings call on Wednesday.

The company, which has previously outlined a target of developing 10 gigawatts of nuclear capacity by 2035, said it was evaluating both domestic and overseas reactor technologies but could not make firm decisions until the regulatory framework is clarified.

“It will all depend on which would be cost-effective. Electricity has to be viable for the Indian consumers, and the type of rates which are affordable to power distribution companies,” Chief Executive Shersingh Khyalia said.

Adani Power said it was assessing the suitability of sites including Bina and Nigrie in the central Indian state of Madhya Pradesh, where it sees potential for future nuclear development.

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Executives added that studies were underway and that the company was keeping potential sites ready so it could move quickly once regulations are in place.

India, which is keen to expand its use of clean energy, last year opened its nuclear generation sector to domestic and foreign firms in the private sector. It aims to expand nuclear capacity to 100 gigawatts by 2047 from about 8.8 gigawatts at present.

State-run Nuclear Power Corp of India, currently India’s sole operator of nuclear plants, aims to have 50 GW of capacity while the country’s top coal plant operator NTPC, also state-run, is aiming for 30 GW of nuclear capacity.

Adani would likely be the third-biggest operator of nuclear plants. Several other private companies including Tata Power and Reliance Industries are looking at investing in the sector.