Adani Group News: Chandrababu Naidu government of Andhra Pradesh is considering options related to holding the Power Purchase Agreement (PPA) related to Adani Green Energy. The state government is considering these options after being indicted by the US Justice Department on allegations of bribery to obtain contracts for solar projects.
ET quoted sources in the Andhra Pradesh government as saying that the state government is considering writing a letter to cancel the power purchase agreement with Solar Energy Corporation of India and Adani Green Energy. Is. Besides, the state government is also considering recommending a central agency to investigate this entire matter. Other options are being considered to form a cabinet sub-committee to investigate the allegations of bribery and for the time being, the power supply agreement with Solar Energy Corporation of India should be put on hold.
The third option is to completely scrap the power supply agreement. Sources said that the state government is insisting on this option in which a letter should be written to Solar Energy Corporation of India and asking it to cancel the power supply agreement. Under this power purchase agreement, Andhra Pradesh government has to purchase 7000 MW solar power from Solar Energy Corporation of India. US authorities have accused Adani Group Chairman Gautam Adani and seven others of paying $265 million in bribes to officials in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the Union Territory of Jammu and Kashmir in India to get solar projects between 2021 and 2022. Accused of giving.
The two companies which are embroiled in controversies in this entire matter are Adani Green and Azure Power, whose letter of award was issued in June 2020. These companies had signed power purchase agreements with Solar Energy Corporation of India. However, Solar Energy Corporation of India could not find a discom to purchase electricity from these two companies because the electricity rates were very high. The US authority has alleged that after this, bribes were given to the state government officials after which the state discoms agreed to buy power and then a power purchase agreement was signed with the Solar Energy Corporation of India.
read this also
Adani News: Adani Group’s statement, ‘Gautam Adani, Sagar Adani and Vineet Jain have not been accused of bribery in America’
