Adani Power studies Madhya Pradesh sites for first nuclear project
Adani Power is evaluating Bina and Nigrie for a potential first nuclear project, with a 10 GW nuclear-capacity ambition by 2035. Any investment remains contingent on clarity around private-sector nuclear rules, technology costs and project economics.
What happened
Adani Power is studying Bina and Nigrie in Madhya Pradesh for its first nuclear project, targeting 10 GW by 2035. The investment depends on private-sector
Key facts
- 10 GW nuclear capacity target by 2035
- 42% year-on-year rise in Q1FY27 consolidated net profit
- ₹4,806 crore Q1FY27 consolidated net profit
- Over ₹2 lakh crore power capital-expenditure programme
- 45 GW total generation capacity target over five years
- 100 GW Indian nuclear-capacity target by 2047
- 8.8 GW current Indian nuclear capacity
- 50 GW NPCIL target
- 30 GW NTPC target
Why this matters
The move creates a case for Adani Power to pursue technology, fuel-cycle, construction and financing partnerships once India clarifies the framework for private nuclear participation.
What to watch
- Government announcement of a private-sector nuclear participation framework or changes to the Atomic Energy Act and Civil Liability for Nuclear Damage Act.
- Union Budget, nuclear mission or Department of Atomic Energy policy language that specifies private capital, reactor targets, viability-gap support or procurement arrangements.
- Madhya Pradesh approvals or disclosures related to land allocation, water access, environmental baseline studies and transmission connectivity at Bina or Nigrie.
- Adani Power disclosure of estimated project size, reactor technology, capital expenditure, timeline, partner or financing structure.
- Supplier or foreign-government agreements involving reactor technology, fuel arrangements, construction support or insurance/liability backstops.
- Evidence that project economics improve through long-term power purchase agreements, regulated returns, sovereign support or industrial offtake commitments.
- Seek state-level land, water, transmission and local-permitting assessments for Bina and Nigrie.
- Engage central government on amendments or frameworks governing private ownership, construction, operation, liability and fuel supply for nuclear plants.
- Evaluate reactor technology partners, likely including small modular reactor and large-reactor options, alongside financing and risk-sharing structures.
- Position nuclear alongside Adani Group renewable, storage and transmission assets to make a broader 24/7 clean-power offering for industrial and commercial customers.
- Monitor whether the company announces a formal feasibility study, technology memorandum, joint venture or project-development vehicle rather than treating site evaluation as a commitment.