Vedanta Power is moving into nuclear energy. The company, which began trading independently on the Mumbai Stock Exchange on 15 June 2026 following its separation from Vedanta Ltd, has publicly announced its intention to expand into atomic energy as part of a long-term diversification strategy. The stated goal is to reach 20 GW of installed capacity, scaling up from its current 4.2 GW thermal power base.
Group chairman Anil Agarwal outlined the roadmap at Vedanta Ltd’s 61st Annual General Meeting, presenting the “Vedanta Unlimited” strategy. Each of the five entities created through the demerger — Vedanta Ltd, Vedanta Aluminium Metal, Vedanta Oil and Gas, Vedanta Iron and Steel, and Vedanta Power — has the potential to become a $100 billion company, according to Agarwal. For the energy arm, nuclear is explicitly on the agenda. The company describes it as “a clean, reliable, round-the-clock energy source” and a key enabler of India’s energy transition.
India’s regulatory landscape has shifted in favour of such ambitions. In December 2025, the Indian parliament passed the so-called SHANTI Bill — Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India — which for the first time allows private operators to build, own, and operate nuclear power plants. The legislation repeals the Atomic Energy Act of 1962, which had reserved nuclear power generation exclusively for state-owned entities NPCIL and BHAVINI. Under the new framework, private companies and joint ventures will be able to participate across the nuclear supply chain, from power generation to equipment manufacturing, under the oversight of the Atomic Energy Regulatory Board. The government’s target is to reach 100 GW of nuclear capacity by 2047.
On the operational side, Vedanta Power already has a concrete roadmap for its thermal expansion. The company plans to commission its second 600 MW unit at the Sakti plant in Chhattisgarh in the second half of fiscal year 2027, with an interim milestone of 12 GW by 2033. The move into nuclear, hydropower, and energy storage systems represents a later phase, as part of the broader trajectory toward 20 GW of total capacity. These remain strategic assessments rather than confirmed capital commitments — a distinction Agarwal did not sidestep, though it does little to temper the scale of the vision.
The group’s figures for fiscal year 2026 provide a solid foundation: record revenues of ₹1,74,075 crore, all-time high net profit of ₹25,096 crore, EBITDA of ₹55,976 crore, and a net debt-to-EBITDA ratio of 0.95x — the lowest level in 14 quarters. Vedanta Power has also signed a 500 MW power supply agreement with Tamil Nadu Power Distribution Corporation at a tariff of ₹5.38 per kWh, valid through 2031. The demerger has already had a tangible market impact: combining the listed prices of the five entities at their stock market debut yields a combined value of around ₹920–930 per original Vedanta share, well above pre-transaction estimates.
The entry of a private-sector heavyweight of Vedanta’s scale into Indian nuclear power would mark a structural shift for a market that has until now been an exclusive state domain. The SHANTI Bill has opened the door; what comes next is selecting the right technology, identifying partners, and navigating a regulatory framework still taking shape. If Vedanta Power can turn this ambition into actual megawatts, it will send a clear signal to other major Indian industrial conglomerates still watching the sector from the sidelines.
