Bribery Scandal Looms Over India's Renewable Energy Ambitions

Bribery allegations against Gautam Adani highlight the difficulties India's renewable energy sector faces in securing buyers for solar and wind power. Despite the government's push for renewables, state-run distribution companies are slow to engage, further complicating the country's ambitious clean energy targets.

Bribery allegations against Gautam Adani, founder of the Adani Group, have surfaced amid India's struggle to secure buyers for its renewable energy output. The allegations underscore a significant hurdle for the sector: state-run power distributors' reluctance to move away from coal reliance despite the central government's push for solar and wind power.

American authorities claim that Adani devised a $265 million scheme to bribe Indian officials to secure solar supply deals after failing to find buyers for a $6 billion project. Although these claims are denied by the Adani Group, they add another layer of complication to India's already challenging renewable energy scenario.

India has set bold targets for increasing its renewable capacity to 500 GW by 2030, yet the states remain unprepared for rapid renewable adoption, lacking the necessary infrastructure. This inertia among state distributors, coupled with financial uncertainties brought on by the allegations against Adani, could slow progress toward the nation's green ambitions significantly.

(With inputs from agencies.)