India’s Adani Power Ltd is advancing its nuclear energy ambitions by incorporating a step-down, wholly-owned subsidiary, Coastal-Maha Atomic Energy Ltd (CMAEL), which will undertake the generation, transmission, and distribution of nuclear power. While the specific location of projects is yet to be confirmed, the name “Coastal-Maha” suggests a potential focus on Maharashtra or other coastal regions suitable for nuclear infrastructure requiring significant water cooling.
This is a significant strategic move for Adani Power, which has firmly established itself as India’s largest private-sector thermal power producer. The company’s operational capacity reached approximately 18,150 MWe by mid-2025, with a long-term target to exceed 30.67 GWe by 2030.
The company’s recent expansion beyond coal is driven by India’s new SHANTI Act (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India), which dismantled the state’s 60-year monopoly on nuclear power and allows private firms to own and operate reactors. The government has signalled its intent to open up the nuclear power value chain through potential changes to existing legal frameworks, while retaining strategic control over critical areas such as fuel management and safety oversight.
In a regulatory filing, the company said CMAEL has been incorporated by Adani Atomic Energy Ltd (AAEL), a wholly owned subsidiary of Adani Power. This follows the company’s February announcement of its incorporation of AAEL, which marked its entry into the nuclear power segment. This step-down subsidiary structure places CMAEL directly under AAEL, which itself is fully owned by Adani Power. The layered ownership highlights a focused approach to building a specialized energy vertical within the group.
CMAEL has been set up with an authorised capital of INR500,000 ($5,370), divided into 50,000 equity shares of INR10 each, with subscription made in cash. Adani noted that no governmental or regulatory approvals were required for the incorporation at this stage. However, future operations will likely involve extensive compliance frameworks.
The company structure ensures Adani’s complete strategic and operational control as the company builds capabilities in a highly specialised sector. It also simplifies decision-making and aligns the subsidiary’s direction with the parent company’s long-term energy strategy. Establishing a nuclear-focused subsidiary underscores Adani’s intent to broaden its energy portfolio while maintaining full ownership control over emerging business verticals.
Following the incorporation of CMAEL, the group is positioning itself for a multi-billion-dollar entry into nuclear power. This includes potential plans to replace its 18 GW thermal fleet with 30 GW of nuclear capacity over the long term. Adani is also exploring the deployment of Bharat Small Reactors (BSRs). These are intended to provide reliable, constant power for high-growth infrastructure, such as the group’s massive AI data centre hubs on the Andhra coast.
