Adani Power Establishes New Subsidiary for Nuclear Energy Expansion
Rawatbhata-Raj Atomic Energy incorporated as a wholly owned unit to focus on nuclear power generation
Quick Look
- Adani Power has incorporated a new subsidiary, Rawatbhata-Raj Atomic Energy, to expand its footprint in India's nuclear power sector.
- This move follows the government's policy shift to allow private sector participation in nuclear energy generation.
AI-generated summary
Adani Power has incorporated a new subsidiary, Rawatbhata-Raj Atomic Energy, to expand its presence in the nuclear energy segment through its existing arm, the company said on Tuesday.
The entity, incorporated on April 20, will be a wholly owned subsidiary of Adani Atomic Energy Ltd, which is fully owned by Adani Power, a statement showed. It will undertake generation, transmission and distribution of electricity from nuclear sources.
The move builds on the group’s earlier entry into the nuclear space and signals progression of its atomic energy plans as India gradually opens up the sector to private participation.
The company said the subsidiary has been set up with an authorised capital of Rs 5 lakh and will be fully owned within the group.
India is looking to expand nuclear capacity as part of its clean energy push, with private players beginning to explore opportunities in a segment currently dominated by state-run Nuclear Power Corporation of India Ltd.
In February, Adani Power set up Adani Atomic Energy Ltd as a dedicated unit to generate, transmit and distribute nuclear power, becoming one of the first private utilities to signal interest in the sector following policy moves to open it up.
