Vedanta power eyes hydro, battery storage, nuclear growth

Newly listed Vedanta Power on Wednesday said it is evaluating a foray into hydro, battery storage, and nuclear energy as part of a long-term diversification plan. The company said it recognises nuclear energy as a clean, reliable, round-the-clock power source and a key enabler of the country’s energy transition. Vedanta Power Ltd has listed its shares on the BSE and the National Stock Exchange (NSE). The listing ceremony on June 15 was led by Vedanta Group Chairman Anil Agarwal. The listing marks an important inflection point for Vedanta Power as a focused, independent business built on a strong operational foundation and positioned to support India’s rapidly growing energy demand, the company said in a statement. The other newly demerged businesses -- aluminium, oil and gas, and iron and steel -- also commenced trading on the exchanges alongside Vedanta Power. Speaking on the day of the listing, Agarwal said, “24 years ago, Vedanta became the first Indian company to list on the London Stock Exchange and went on to become a FTSE100 company. The seed we sowed that day has grown into a vast banyan tree, and the saplings nurtured under it are now ready to become giants in key sectors and contribute significantly to India’s rapid growth.” Backed by a clear growth roadmap, Vedanta Power is focused on enhancing operational excellence, expanding capacity and building a long-term power platform for India. The company plans to scale its capacity to 20 GW, with the long-term ambition to be among the top-three private-sector power companies in the country. As part of this journey, Vedanta Power expects to commission the second 600 MW unit at its Sakti plant in the second half of FY27 and increase total capacity to 12 GW by FY33. A significant portion of this expansion is expected to be driven through brownfield projects, leveraging existing infrastructure and operational advantages, the company added.