At the Adani Group's 34th annual general meeting on Wednesday, chairman Gautam Adani announced that the conglomerate intends to build 10 gigawatts of nuclear power capacity by 2035, marking its formal entry into atomic energy through a newly created arm, Adani Atomic Energy. The company said land for the project has already been identified, though it did not disclose specific sites or a construction timeline for the first plant.
The nuclear push comes as India works to loosen decades-old restrictions that kept atomic power almost entirely in government hands. Civil nuclear generation in the country has historically been the preserve of the state-run Nuclear Power Corporation of India, but the central government has been moving to amend the Atomic Energy Act and the Civil Liability for Nuclear Damage Act to let private and foreign companies invest in the sector, as part of a broader plan to multiply India's nuclear capacity over the next two decades. Adani's announcement positions the group among the first large private conglomerates to publicly commit to the space.
Adani framed the nuclear bet as part of a wider energy-security strategy, citing rising power demand, geopolitical uncertainty and a push to cut reliance on imported fuel. The group said it would keep expanding investment across thermal, renewable, hydro and gas-based power even as it builds out the nuclear business, with total capital expenditure for the year pegged at roughly Rs 1.5 lakh crore, which Adani said accounted for nearly 30% of all private-sector investment in the country.
The AGM also doubled as a presentation of the group's annual results. Adani Group reported revenue of Rs 2.92 lakh crore for the 2025-26 financial year, up 7.4% from a year earlier, while post-tax profit rose 13.9% to Rs 46,376 crore. Adani told shareholders the company had effectively countered the doubts raised about its finances in recent years, an apparent reference to the short-seller allegations that rattled its stocks in 2023, pointing to the Rs 25,000 crore it raised through a rights issue earlier this year as evidence of investor confidence.
Beyond power, the group flagged expansion across its ports, gas and airports businesses. Adani Ports said it handled 500 million tonnes of cargo in the financial year and is targeting 1 billion tonnes by 2030, while new terminals are coming up at Navi Mumbai International Airport and Guwahati Airport. Adani Total Gas said its piped natural gas connections had crossed 11 lakh. The group also pointed to a tie-up with Google for a gigawatt-scale data centre project in Visakhapatnam, giving Andhra Pradesh a direct stake in one of the conglomerate's newer technology bets.
