India’s Adani Power 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 that requires significant water cooling.
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This is a significant strategic move for Adani Power, which has established itself as India’s largest private-sector thermal power producer. The company’s operational capacity reached approximately 18.15GW-electrical (GWe) by mid-2025, with a long-term target to exceed 30.67GWe by 2030.
The company’s recent expansion beyond coal is driven by India’s new Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, which dismantled the state’s 60-year monopoly on nuclear power and allows private companies 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 (AAEL), a wholly owned subsidiary of Adani Power. This follows the company’s announcement in February 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 specialised energy vertical within the group.
CMAEL has been set up with authorised capital of Rs500,000 ($5,370), divided into 50,000 equity shares of Rs10 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 18GW thermal fleet with 30GW of nuclear capacity over the long term. Adani is also exploring the deployment of Bharat Small Reactors. 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.
