Adani Group to set up 1st nuclear power project in Uttar Pradesh as India allows private firms to enter the sector

The Adani Group is reportedly in talks with the Uttar Pradesh government to build a commercial nuclear power project, according to Bloomberg. 

All about Adani Group's nuclear power project

According to the publication, the proposed project would involve setting up eight small modular reactors (SMRs) of 200 megawatts (MW) each, giving the conglomerate a total nuclear capacity of about 1,600 MW.

Also, the report says that the Uttar Pradesh government has not yet identified a suitable riverside location for the project, which is required to ensure a steady water supply for the reactors.

This comes as the Narendra Modi-led government seeks to diversify India’s energy mix and reduce dependence on fossil fuels.

The Parliament on Thursday approved changes to open up the nuclear sector to private investment, and unlock investment opportunities estimated at $214 billion, Bloomberg reported.

What more to know about private investments in India's nuclear sector?

Under the Nuclear Energy Mission announced in the Union Budget in February, the Modi government said it would spend Rs 200 billion on research and development of small modular reactors.

Indian giant companies such as the Tata Group, Reliance Industries Ltd. and the JSW Group are also competing for entry into this sector, local news wire PTI reported in October.

Also read: Shark Tank India backed wellness startup Better Nutrition launches India’s first XRF-backed soil-to-food nutrient verification system (startuppedia.in)

Nuclear status of the country, goals ahead

Currently, India has about two dozen nuclear reactors at seven locations, contributing approximately 3% of the total electricity generation, according to a statement made in the parliament in July. While these reactors can generate as much as 8,780 MW of nuclear power, ongoing plans are aimed at boosting it to 13,600 MW with projects in various stages of implementation.

Incidentally, India has set a target of achieving 100 GW of nuclear power capacity by 2047.

Representatives of the Uttar Pradesh government, the Adani Group and the Department of Atomic Energy did not immediately respond to Bloomberg’s requests for comment.

Also read: ISRO schedules LVM3-M6 mission launch on Dec 24 from Second Launch Pad, Sriharikota; public can witness by registering online (startuppedia.in)