Adani Power is evaluating Bina and Nigrie in Madhya Pradesh for its first nuclear power project, as the company prepares to build 10 GW of atomic capacity by 2035, but investment decisions will hinge on the Centre finalising rules for private-sector participation.
Feasibility studies are underway at the two locations and the company is keeping potential sites ready to move quickly once the regulatory framework is notified. It is simultaneously assessing domestic and overseas reactor technologies, with affordability expected to determine the final choice.
“It will all depend on which would be cost-effective. Electricity has to be viable for Indian consumers, and the type of rates which are affordable to power distribution companies,” Adani Power Chief Executive Officer Shersingh Khyalia said during a post-earnings call.
Diversification Strategy
The proposed entry would mark a major diversification for India’s largest private thermal power producer and could position Adani as the country’s third-largest nuclear operator, behind state-owned Nuclear Power Corporation of India and NTPC, if its targeted capacity is commissioned.
The nuclear push comes as Adani Power reported its highest quarterly operating and financial performance in Q1FY27. Consolidated net profit rose 42% year-on-year to ₹4,806 crore, supported by higher generation, robust electricity demand and improved capacity utilisation.
Adani Group had announced its nuclear entry through Adani Atomic Energy in June, saying land had been identified and that the 10-GW programme would help meet rising demand for clean, round-the-clock electricity. The group is also implementing a power capital-expenditure programme exceeding ₹2 lakh crore, aimed at expanding its overall generation capacity to 45 GW over the next five years.
National Nuclear Capacity Targets
India plans to expand nuclear generation capacity to 100 GW by 2047, from about 8.8 GW currently, as it seeks dependable low-carbon electricity alongside renewable-energy expansion. NPCIL is targeting 50 GW, while NTPC plans 30 GW.
The government opened the sector to domestic and overseas private companies last year, but detailed rules governing ownership, technology, liability and project implementation are awaited. Tata Power and Reliance Industries are among the other private companies evaluating opportunities.
For Adani Power, the Madhya Pradesh sites remain at the evaluation stage, with the company making clear that technology selection, project economics and investment timelines will follow regulatory clarity.