Vedanta seeks partner for India nuclear power plants

Mumbai: Billionaire Anil Agarwal-led Vedanta Group is seeking bids from global firms to build 5 gigawatts of nuclear power capacity in India to meet the energy needs at its facilities.

"Vedanta is inviting an expression of interest to build and operate 5,000 MWe of nuclear power in India for captive use," it said in an advertisement published Thursday on the website of Vedanta Ltd.

Initial bids are to be submitted within 30 days.


"We are looking for a globally recognised company with a proven track record of designing, building and operating nuclear plants to deliver an end-to-end turnkey project," the company said, adding that it will arrange for the land, infrastructure support and regulatory approvals.

Vedanta's current energy portfolio includes 9,000 MW of thermal and 4,000 MW of renewables under construction. It is aiming to expand the capacity to 20,000 MW in the next three years.

India will make legislative amendments to allow private firms in nuclear power generation, finance minister Nirmala Sitharaman said earlier this month while presenting the nation's budget.

The country will change its liability law, which was intended to be a safeguard tool but ended up being a deterrent for private companies to enter the industry.

Vedanta's move comes after Tata Power said it will take up opportunities to set up small modular nuclear reactors.