Bribe Allegations Cloud Adani's Solar Deals in Andhra Pradesh

The Adani Group, led by India's second-richest man, faces bribery allegations by the US DOJ for securing solar power contracts in Andhra Pradesh. The YSR Congress, in power during the period in question, denies direct agreements with Adani. SECI approved the deals under central oversight.

The Adani Group, a major player in India's renewable energy sector, is currently embroiled in controversy following allegations by the US Department of Justice. The accusations suggest that the group, along with its key figures including Gautam Adani and his nephew Sagar, paid bribes to acquire lucrative solar power contracts in Andhra Pradesh and Odisha.

Despite the charges, the ruling YSR Congress in Andhra Pradesh has distanced itself, claiming no direct agreements were made with the Adani Group. According to the party, power procurement for 7,000 MW was sanctioned by the AP Electricity Regulatory Commission and involved a deal between Solar Energy Corporation of India Ltd (SECI) and state electricity distributors.

The controversial agreements, believed to yield profits of more than $2 billion over 20 years, are part of a broader energy strategy approved by federal regulators, according to the YSRCP. They argue the arrangements, reportedly beneficial to the state, were made under government oversight at the federal level without any compromise or impropriety.

(With inputs from agencies.)