YSRCP Denies Direct Ties with Adani Amidst Bribery Allegations

YSRCP refutes claims of a direct agreement with Adani Group as the latter faces bribery charges by the US Department of Justice. The power deal was between SECI and AP Discoms. The arrangement approved by regulatory bodies aims to benefit Andhra Pradesh substantially.

The YSR Congress Party (YSRCP) asserted on Thursday that there was no direct deal between its government and the Adani Group, emphasizing that the power sale agreement was made in 2021 between the Solar Energy Corporation of India Ltd (SECI) and Andhra Pradesh Discoms.

This statement by the Jagan Mohan-led party emerged amid allegations against the Adani Group, which faces corruption charges by the US Department of Justice for reportedly bribing officials for solar power contracts in Andhra Pradesh under the YSRCP's rule.

The power procurement deal for 7,000 MW was sanctioned by the AP Electricity Regulatory Commission in November 2021, culminating in a Power Sale Agreement signed with SECI on December 1, 2021. The previous agreement aims to save the state Rs 3,700 crore annually over the 25-year term.

(With inputs from agencies.)