Change in India's policy and Adani Group's entry into the nuclear power sector, understand the pros and cons of the whole matter
The Gautam Adani-led Adani Group is all set to enter India's nuclear energy power sector. In this way, it will join the likes of Tata and JSW. The government is opening up nuclear power generation to private companies. This is a big change in its policy. The Ahmedabad-based infrastructure giant has formed a new subsidiary company under Adani Power.
Its name is Adani Atomic Energy. According to a regulatory filing, the wholly-owned subsidiary will focus on generation, transmission and distribution of electricity from nuclear and atomic energy sources. Many opposition parties have not liked the Adani Group's entry into the nuclear energy power sector. Let us understand the whole matter.
Indications of major policy changes
The move comes after the government hinted at a major policy shift. It wants greater private sector participation in nuclear power in India's long-term clean energy and energy security strategy. India currently has about 9 GW of installed nuclear capacity.
It contributes about 3% of the total electricity generation. The government has set an ambitious target of increasing nuclear capacity to 100 GW by 2047. Nuclear power is expected to account for around 10% by that time.
