SECI Unscathed Amidst Adani Bribery Allegations

Solar Energy Corporation of India (SECI) remains untouched by allegations against Gautam Adani involving a $265 million bribery case. SECI's CMD R P Gupta reiterates that there are no charges against SECI, but the indictment implicates various state governments and Azure Power in shady dealings.

The Solar Energy Corporation of India Ltd (SECI), a key player in India's renewable energy sector, has not been implicated in allegations surrounding billionaire Gautam Adani, according to its Chairman and Managing Director R P Gupta.

U.S. prosecutors have accused Adani of orchestrating a plan to bribe Indian officials $265 million for advantageous solar power contract terms. Yet, Gupta confirmed there are no allegations against SECI.

While the U.S. prosecutorial documents mention SECI's agreements with several Indian states, it is the state governments and Azure Power that face accusations of wrongdoing. Gupta emphasized SECI's clean conduct amid these claims. Gupta took over as SECI's CMD in June 2023, after retiring from the Ministry of Environment, Forest & Climate Change.

(With inputs from agencies.)