No business dealings with Adani Group, only SECI: Tamil Nadu power minister
1 month ago

No business dealings with Adani Group, only SECI: Tamil Nadu power minister

India Today  

Power minister Senthil Balaji clarified that for the past three years, there was no business relationship between DMK-led state government’s Tamil Nadu Electricity Board and the Adani Group. According to Balaji, Tamil Nadu signed a power agreement only with the Solar Energy Corporation of India Limited, which is a central government entity. Speaking to reporters in Karur, Balaji stated: “Keeping in mind our power requirements, the state government has signed contracts with Union government entities like SECI. The contract between Tamil Nadu government and the SECI was for the procurement of 1500 MW power at an extremely low cost of Rs 2.61 per unit.

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History of this topic

Adani deal under bribery scrutiny was approved against officials’ advice
6 days ago

Adani deal under bribery scrutiny was approved against officials’ advice

The Hindu  

The approach from the Solar Energy Corporation of India on September 15, 2021 came out of the blue. Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the State had no short-term need for solar power, and should focus on other renewables that could provide 24-hour energy. The news agency spoke to a former State power …

Adani-Andhra Deal Approved Against Officials' Advice, Under Bribery Scrutiny
6 days, 10 hours ago

Adani-Andhra Deal Approved Against Officials' Advice, Under Bribery Scrutiny

Deccan Chronicle  

The approach from the Solar Energy Corporation of India on Sept. 15, 2021 came out of the blue. The federal agency, tasked with developing the solar sector, wanted to know if the southeastern state of Andhra Pradesh would like to sign India's largest renewables contract.Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had …

Cancel pact with SECI, CPI secretary writes to CM Chandrababu Naidu
1 week, 1 day ago

Cancel pact with SECI, CPI secretary writes to CM Chandrababu Naidu

New Indian Express  

VIJAYAWADA: CPI State secretary K Ramakrishna on Saturday wrote a letter to Chief Minister N Chandrababu Naidu, urging him to find ways to cancel the agreement for 7000 MW with Solar Energy Corporation of India. In the letter, he stated that when it was crystal clear from the reports of intelligence agencies in the USA that Adani Group bribed former …

‘Did not meet Adani’: Stalin in TN assembly
1 week, 5 days ago

‘Did not meet Adani’: Stalin in TN assembly

Hindustan Times  

Chief Minister MK Stalin on Tuesday asserted that he did not meet Adani Group’s founder-chairman, Gautam Adani in Chennai. MK Stalin’s comments comes in the wake of the billionaire industrialist being indicted by a US court for bribery of Indian government officials in various states including Tamil Nadu “Adani did not come to meet me. He further said: “Electricity minister …

CM Stalin did not meet Adani, opposition raising baseless allegations: Minister Balaji
2 weeks, 2 days ago

CM Stalin did not meet Adani, opposition raising baseless allegations: Minister Balaji

New Indian Express  

CHENNAI: Chief Minister MK Stalin did not meet with Adani Group chairman Gautam Adani, said Minister for Electricity V Senthil Balaji said on Friday in an attempt to put an end to allegations raised by opposition parties that the business tycoon met with the top brass of the DMK during a closely kept visit to Chennai in July. In a …

Solar Energy Corp withdraws debarment order against Reliance Power
Trending News
2 weeks, 6 days ago

Solar Energy Corp withdraws debarment order against Reliance Power

Live Mint  

New Delhi: The Solar Energy Corporation of India has withdrawn its order barring Reliance Power from renewable energy tenders. On 6 November, Seci had barred Reliance Power and its subsidiary Reliance NU BESS from participating in tenders floated by the state-run entity for three years over alleged submission of fake documents by the companies. In September, Reliance Power successfully secured …

Amarnath justifies PPA with SECI, says it envisages power supply at ‘lowest price’
3 weeks, 3 days ago

Amarnath justifies PPA with SECI, says it envisages power supply at ‘lowest price’

The Hindu  

YSRCP district president and former Minister Gudivada Amarnath has taken exception to the reports in a section of the media targeting party president and former Chief Minister Y.S. Addressing the media here on November 29, Mr. Amarnath said the Power Sale Agreement was between the SECI and the State government. The waiver would help save ₹1.10 lakh crore, Mr. Amarnath …

Adani allegations shine spotlight on India’s clean energy conundrum
3 weeks, 4 days ago

Adani allegations shine spotlight on India’s clean energy conundrum

The Hindu  

Published : Nov 28, 2024 11:22 IST - 4 MINS READ Bribery allegations against the Adani Group founder Gautam Adani have highlighted the growing problem India’s renewable energy developers face in finding buyers for the power they generate. The challenges were stark in the case of Adani Green, India’s largest renewable energy company, which took over three years to strike …

Why Chandrababu Naidu is wary of calling off Andhra-Adani solar power deal
Trending News
3 weeks, 4 days ago

Why Chandrababu Naidu is wary of calling off Andhra-Adani solar power deal

India Today  

Andhra Pradesh chief minister N. Chandrababu Naidu is in a dilemma about how the state should respond to the US Justice Department’s indictment of billionaire Gautam Adani in an alleged $250 million scam in India. At the centre of the allegations is a $200 million bribe linked to a 7,000 MW power purchase agreement —described as one of the largest …

Jagan Reddy defends SECI power deal, threatens legal action on media allegations
3 weeks, 4 days ago

Jagan Reddy defends SECI power deal, threatens legal action on media allegations

India Today  

YSR Congress Party president and former Chief Minister YS Jagan Mohan Reddy strongly defended the power sale agreement with the Solar Energy Corporation of India and dismissed the recent media allegations against him. While speaking in Tadepalli, Andhra Pradesh, on Thursday, he stated that the deal, which involves the purchase of power at Rs 2.49 per unit, was between the …

Andhra Pradesh extends power supply deadline for Adani Green Energy
3 weeks, 4 days ago

Andhra Pradesh extends power supply deadline for Adani Green Energy

Live Mint  

New Delhi: The Andhra Pradesh government has granted a second extension to Adani Green Energy Ltd for supplying renewable power after the company missed two earlier deadlines citing transmission unavailability, said three people aware of the development. To Mint's queries on the extension from the Andhra Pradesh government, a spokesperson for Adani Green said the scheduled completion date of the …

CFL wants ACB to probe Jagan in Adani bribe scam
3 weeks, 5 days ago

CFL wants ACB to probe Jagan in Adani bribe scam

Deccan Chronicle  

VIJAYAWADA: Centre for Liberty founder Nallamothu Chakravarthy has filed a complaint with the Anti-Corruption Bureau seeking a probe against former chief minister Y.S. In addition to the ex-CM, CFL also wanted an inquiry into Gautam Adani – chairman of Adani Group, N. Srikanth – former energy secretary, Balineni Srinivasa Reddy – former energy minister and other persons that ACB may …

Delhi High Court stays Seci order barring Reliance Power from renewable energy bids
3 weeks, 6 days ago

Delhi High Court stays Seci order barring Reliance Power from renewable energy bids

Live Mint  

New Delhi: The Delhi High Court has granted a stay on Solar Energy Corporation of India's notice of debarment against Reliance Power and its subsidiaries except for Reliance NU BESS, formerly known as Maharashtra Energy Generation Limited. Reliance Power said in a regulatory filing that it had challenged Seci’s notice of debarment in the Delhi High Court. In September, Reliance …

Adani ‘bribery’ case: Is Andhra Pradesh planning to cancel power deal with Adani Group?
Top News
3 weeks, 6 days ago

Adani ‘bribery’ case: Is Andhra Pradesh planning to cancel power deal with Adani Group?

Live Mint  

The Andhra Pradesh state government is reviewing official files and will explore if there is a possibility of cancelling a power supply contract linked to the Adani Group, reported the news agency Reuters, quoting Finance Minister of the State, Payyavula Keshav, on November 26. The indictment release from the US authorities also said that after payment of the alleged bribes …

Adani bribery case: Andhra minister says checking if power deals can be scrapped
3 weeks, 6 days ago

Adani bribery case: Andhra minister says checking if power deals can be scrapped

India Today  

Andhra Pradesh is reviewing government files to explore the possibility of scrapping a power supply contract linked to the Adani Group, Reuters reported. The development comes in the wake of a New York court indicting Adani Group chairperson Gautam Adani and seven others for promising USD 265 million in bribes to states, including Andhra Pradesh, to obtain contracts. Finance Minister …

Congress demands Andhra Pradesh government cancel Adani deal signed under YSRCP
3 weeks, 6 days ago

Congress demands Andhra Pradesh government cancel Adani deal signed under YSRCP

India Today  

The Andhra Pradesh Congress Committee urged the immediate cancellation of a power purchase agreement signed with Adani Green Energy in 2021 during the YSRCP government led by former Chief Minister YS Jagan Mohan Reddy. The deal, according to APCC president YS Sharmila, imposes an estimated financial burden of Rs 1.5 lakh crore on the people of Andhra Pradesh over the …

Stalin attacks PMK founder, dismisses Adani link claims
3 weeks, 6 days ago

Stalin attacks PMK founder, dismisses Adani link claims

Hindustan Times  

Tamil Nadu chief minister MK Stalin on Monday hit out at S Ramadoss, founder of the Pattali Makkal Katchi, an ally in the NDA, over the latter’s allegation that the DMK chief and industrialist Gautam Adani held a secret meeting in Chennai at the CM’s residence. Tamil Nadu Chief Minister MK Stalin claimed Ramadoss keeps issuing such statements “as he …

Adani bribery row: Jagan Reddy's party leader says defector signed SECI papers
4 weeks ago

Adani bribery row: Jagan Reddy's party leader says defector signed SECI papers

India Today  

YSRCP leader Chevireddy Bhaskar Reddy slammed former Andhra Pradesh power minister Balineni Srinivas Reddy for his baseless comments against Jagan Mohan Reddy. BALINENI BLAMES JAGAN REDDY Balineni, who quit the YSRCP on September 18 and later joined the Jana Sena Party, recently accused party president and former chief minister YS Jagan Mohan Reddy of wrongdoing. Chavireddy made similar arguments, saying: …

Why SECI struggles to find buyers for its renewable energy tenders
1 month ago

Why SECI struggles to find buyers for its renewable energy tenders

Live Mint  

The Solar Energy Corp. of India plays a key role in India's renewable energy push by acting as a central intermediary between private power producers and state power distribution companies. The indictment says Adani executives paid bribes to secure agreements with discoms to buy solar power from Seci, in a bid that Adani Green had won in a 2019 tender. …

Jagan Reddy embroiled in Adani bribery case: Timeline of meetings, power purchase
1 month ago

Jagan Reddy embroiled in Adani bribery case: Timeline of meetings, power purchase

India Today  

The United States Securities and Exchange Commission has alleged that Gautam Adani personally met with the then Chief Minister of Andhra Pradesh, Jagan Mohan Reddy, in August 2021, and discussed the matter of the power supply agreement and the `incentives” needed to make the state government enter into a deal for purchase of 7,000 MW of power. KEY ALLEGATIONS AND …

‘No engagement with Adani in Odisha, claims incorrect’: BJD clarifies after BJP attack over Gautam Adani ’bribe’ charges
1 month ago

‘No engagement with Adani in Odisha, claims incorrect’: BJD clarifies after BJP attack over Gautam Adani ’bribe’ charges

Live Mint  

The Biju Janata Dal on Friday issued a clarification regarding power purchase agreements in Odisha, and emphatically denied allegations that state government officials took bribes from the Adani group to supply renewable energy to the state from the central pool. In the written exposition, the BJD claimed that the power purchase agreement made three years ago was between two government …

5 things about SECI, the PSU mentioned in US indictment of Gautam Adani
1 month ago

5 things about SECI, the PSU mentioned in US indictment of Gautam Adani

Firstpost  

SECI holds Navratna status, a designation granted by the Government of India to PSUs for exceptional performance. This gives SECI with greater financial and operational autonomy to make decisions, invest, and expand operations without extensive government approvals SECI is a Navratna PSU at the heart of the US indictment against Gautam Adani. Image sources: Pixabay/Wikimedia Commons The Solar Energy Corporation …

Will assess, act on alleged Jagan Reddy-Adani bribery link: Chandrababu Naidu
1 month ago

Will assess, act on alleged Jagan Reddy-Adani bribery link: Chandrababu Naidu

India Today  

Andhra Pradesh Chief Minister Chandrababu Naidu on Friday addressed the US allegations of bribery involving the Adani Group and the erstwhile YS Jagan Mohan Reddy regime, saying his government will "assess the situation" and take action based on the evidence. The allegations stem from court filings by the US Securities and Exchange Commission, which claim that industrialist Gautam Adani met …

Adani met Jagan Reddy in 2021, promised bribes, says US regulator
1 month ago

Adani met Jagan Reddy in 2021, promised bribes, says US regulator

India Today  

The United States Securities and Exchange Commission has alleged that Gautam Adani met then Andhra Pradesh Chief Minister Jagan Mohan Reddy in August 2021 to address the state's reluctance to sign an agreement with the government-run Solar Energy Corporation of India. However, Jagan Reddy's party, which was in power between 2019-2024, said its government had no "direct agreement" with the …

MK Stalin's DMK government in Tamil Nadu rejects Adani bribe allegations, demands probe amid political fallout - Tamil Nadu News
1 month ago

MK Stalin's DMK government in Tamil Nadu rejects Adani bribe allegations, demands probe amid political fallout - Tamil Nadu News

India Today  

The DMK government in Tamil Nadu has denied any direct ties to the Adani group following allegations in a US court that the conglomerate promised bribes to Indian government officials between July 2021 and February 2022. Tamil Nadu Electricity Minister Senthil Balaji clarified that the state’s power department has not entered into any direct agreements with the Adani group since …

YSRC Denies Direct Agreement Between AP Discoms and Adani Group
1 month ago

YSRC Denies Direct Agreement Between AP Discoms and Adani Group

Deccan Chronicle  

Vijayawada: The YSRC has denied allegations of a direct agreement between Andhra Pradesh Discoms and the Adani Group following claims of bribery involving government officials to secure power, as reported in an indictment by the US Department of Justice. In a statement issued on Thursday, the YSRC clarified that it received an offer from the Solar Energy Corporation of India …

Adani Bribed AP Under Jagan Rule for Sale of Solar Power, Says US DoJ
1 month ago

Adani Bribed AP Under Jagan Rule for Sale of Solar Power, Says US DoJ

Deccan Chronicle  

Hyderabad:Tremors of the alleged bribery scam involving top industrialist Gautam Adani were felt in Andhra Pradesh with the previous Y.S. The US Department of Justice has disclosed that a high-ranking official in AP who served between May 2019 and June 2024 was offered “a corrupt payment of Rs 1,750 crore in exchange of the official causing distribution companies to agree …

Gautam Adani met Jagan Reddy in 2021, promised $200 million bribe to officials, claims US report
1 month ago

Gautam Adani met Jagan Reddy in 2021, promised $200 million bribe to officials, claims US report

Hindustan Times  

The United States Securities and Exchange Commission has alleged that billionaire tycoon Gautam Adani met then-Andhra Pradesh chief minister YS Jagan Mohan Reddy in August 2021. The meeting was about the fact that the southern state had not entered into a power supply agreement with the Solar Energy Corporation of India and the “incentives” needed to cause Andhra Pradesh to …

If Adani company 'bribed' officials in India, what is the US probe all about?
1 month ago

If Adani company 'bribed' officials in India, what is the US probe all about?

India Today  

Adani Group chairperson Gautam Adani was among eight people indicted by US prosecutors for allegedly paying Rs 2,029 crore in bribes to officials for solar power contracts in four Indian states and one union territory. Gautam Adani, Sagar and six others have been indicted for allegedly paying bribes to officials in India for securing solar power contracts with state electricity …

Adani group denies bribery charge, says they are baseless
1 month ago

Adani group denies bribery charge, says they are baseless

Deccan Chronicle  

New Delhi: Adani group on Thursday denied charges of paying bribe to secure favourable terms for solar power contracts, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws.It said all possible legal recourse will be sought. "The allegations made by the US Department of Justice and the US Securities and Exchange Commission against …

Gautam Adani Devised Bribery Scheme To Make Indian Govt Entity Buy Solar Power From His Company: US Dept Of Justice
1 month ago

Gautam Adani Devised Bribery Scheme To Make Indian Govt Entity Buy Solar Power From His Company: US Dept Of Justice

Live Law  

According to the charges filed by the United States Department of Justice in a U.S. court, Gautam Adani, along with others, orchestrated a million-dollar bribery scheme in the USA to bribe Indian government officials. Therefore, Gautam Adani, along with Adani company executives Sagar Adani & Vneet Jaain, and certain other officials of the US company, devised a scheme to bribe …

SECI, the central PSU at heart of Adani bribery allegations
1 month ago

SECI, the central PSU at heart of Adani bribery allegations

New Indian Express  

NEW DELHI: Solar Energy Corporation of India, the company at the heart of the Adani group bribery scandal in the US, is a central PSU ‘dedicated to the development and expansion of Renewable Energy capacity in India’. A US district court has found that Adani Green Energy had signed a Power Purchasing Agreement with SECI, under which the Adani Group …

Adani bribe row: US indictment names Andhra, Chhattisgarh, Odisha, J&K, Tamil Nadu
1 month ago

Adani bribe row: US indictment names Andhra, Chhattisgarh, Odisha, J&K, Tamil Nadu

India Today  

Four states and one Union Territory are in focus following the US indictment of Gautam Adani and seven others for allegedly paying bribes to Indian government officials for securing solar power contracts. The prosecutors have alleged that the Adani Group paid USD 265 million in bribes, with a large chunk directed at officials in Andhra Pradesh, to secure contracts with …

US complaint says Adani met and promised Rs 1750 crore bribe to Jagan Mohan Reddy; YSRCP calls it 'incorrect'
1 month ago

US complaint says Adani met and promised Rs 1750 crore bribe to Jagan Mohan Reddy; YSRCP calls it 'incorrect'

New Indian Express  

‘Bribe prompted AP Discoms to purchase power from SECI’ "In August 2021, Gautam Adani met the Chief Minister of Andhra Pradesh about the fact that Andhra Pradesh had not entered into a Power Supply Agreement with SECI and the “incentives” needed to cause Andhra Pradesh to do so. At or in connection with that meeting, Gautam Adani paid or promised …

Adani Group dismisses bribery and fraud charges by US as 'baseless'
1 month ago

Adani Group dismisses bribery and fraud charges by US as 'baseless'

New Indian Express  

NEW DELHI: Adani group on Thursday denied charges of paying bribe to secure favourable terms for solar power contracts, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws. "The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied," …

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts: Report
1 month ago

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts: Report

Live Mint  

Bangladesh's High Court ordered the formation of a high-level enquiry committee comprising international energy and law experts to reevaluate all electricity-related agreements with the Adani group, The Business Standard, a local news portal, reported on Tuesday, November 19. Adani signed the 25-year power purchase agreement in 2017; at that time, no imported coal-based power plants were operational in Bangladesh, as …

'Rigged deal': Congress attacks Mahayuti government over Adani winning bid to supply power to Maharashtra
3 months, 1 week ago

'Rigged deal': Congress attacks Mahayuti government over Adani winning bid to supply power to Maharashtra

The Hindu  

With the Adani Group winning a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra, the Congress on Sunday alleged that it was a "rigged deal" facilitated by the Mahayuti government, which it claimed was "tottering towards a landslide defeat" in the upcoming assembly polls. The opposition party's attack came after the Adani Group won a …

Adani Power consortium bid for Coastal Energen stayed
3 months, 2 weeks ago

Adani Power consortium bid for Coastal Energen stayed

New Indian Express  

NEW DELHI: The Chennai bench of the National Company Law Appellate Tribunal has stayed the NCLT order approving the resolution plan of the consortium of Dickey Alternative Investment Trust and Adani Power for acquisition of assets of Chennai-based power generation company Coastal Energen. The promoter of the power company has contended that Adani Power piggy-backed DAIT to get a back-door …

Tata Power targets domestic solar projects, to offer easy loans
9 months, 2 weeks ago

Tata Power targets domestic solar projects, to offer easy loans

New Indian Express  

CHENNAI: Tata Power Solar Systems Limited has expanded tie-ups to finance unsecured loans for residential solar projects along with commercial and industrial projects. TPSSL has extended the loan limits of up to `15 lakh for residential and `16 crore for commercial and industrial customers, the company said in exchange filings on Tuesday. This will help households and businesses access solar …

Adani Green Energy inks pact with SECI for supply of 1,799 MW solar power, completes 8,000 MW tender
11 months, 4 weeks ago

Adani Green Energy inks pact with SECI for supply of 1,799 MW solar power, completes 8,000 MW tender

India TV News  

New Delhi: Adani Green Energy Limited on Monday said it has finalised a power purchase agreement with the Solar Energy Corporation of India to deliver 1,799 MW of solar power. Aligned to India's target of 500 GW non-fossil fuel capacity by 2030, Adani Green is determined to deliver in excess of 45 GW renewable energy, a five-fold increase from our …

Adani Power’s Jharkhand unit begins operations, to supply power to Bangladesh
1 year, 8 months ago

Adani Power’s Jharkhand unit begins operations, to supply power to Bangladesh

Live Mint  

Mumbai: Adani Power Ltd, part of billionaire Gautam Adani's group of companies, on Friday said that its power plant in Jharkhand has begun commercial operations. The facility is part of the 2x800 MW ultra-supercritical power project of Adani Power Ltd, according to an exchange filing. APJL, a wholly-owned subsidiary of Adani Power, has a 25-year power purchase agreement to supply …

Adani Green Energy completes SB Energy India acquisition
3 years, 2 months ago

Adani Green Energy completes SB Energy India acquisition

Live Mint  

Adani Green Energy Ltd has completed the acquisition of Japan’s SoftBank Group Corp.’s and Bharti Enterprises Ltd-owned solar power producer SB Energy India for an enterprise value of $3.5 billion, AGEL said in a statement on Monday. “Adani Green Energy Ltd, the world's largest solar power developer, successfully completed the acquisition of SB Energy Holdings Ltd in an all-cash deal …

Indian Bank, Fortis, Adani Green Energy: Here are the Top Stocks in Focus Today
3 years, 11 months ago

Indian Bank, Fortis, Adani Green Energy: Here are the Top Stocks in Focus Today

News 18  

SGX Nifty, which acts as an indicator for Nifty50 and Sensex, was trading 4.50 points or 0.03 percent lower at 13,977.00 at 7 am. Here is the list of the best stocks for investors today: Shriram Transport Finance: In order to raise funds, the company has approved allotment of Rs 240 crore Non-convertible debentures. Ortin Laboratories: The company’s scheme of …

Solar Power Tariff Drops to All-time Low of Rs 1.99/unit
4 years ago

Solar Power Tariff Drops to All-time Low of Rs 1.99/unit

News 18  

Solar power tariff has dropped to an all-time low of Rs 1.99 per unit in an auction of projects of 500 MW capacity by Gujarat Urja Vikas Nigam Ltd last week. “Now the solar power tariff has dropped to a new low of Rs 1.99 per unit in an auction for 500MW projects by GUVNL last week,” a source told …

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