Adani Group enters nuclear power sector after SHANTI Act
Context: The Adani Group announced its entry into the nuclear power sector , via a regulatory filing. This is the first instance of a major power company in India doing so, following the passage of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act in December.
- “We wish to inform you that Adani Power Limited (APL) has incorporated a wholly owned subsidiary — Adani Atomic Energy Limited,” the company.
- The SHANTI Act, which was passed by Parliament in December, replaces the Atomic Energy Act and allows private companies to operate nuclear power plants in India. It also allows such companies to form joint ventures with foreign companies for technology collaboration.
- India has an installed nuclear power capacity of 8.8 GW, with the government claiming that it will rise to 32 GW in the next decade. It currently contributes about 3% of generated electricity.