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Andhra likely to suspend power deal
Business Standard
|November 27, 2024
Andhra Pradesh is likely to suspend a power purchase deal linked to Adani Group due to the US charges on the group's billionaire founder Gautam Adani over an alleged bribery scheme, two state government sources said.
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The state will ask the central government and the Solar Energy Corporation of India (SECI), which awards power supply contracts to firms like Adani, to investigate the charges, the sources said.
The suspension, likely to be announced soon, would be the first such action by an Indian state government after US prosecutors charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unidentified Indian government officials to obtain solar power-supply contracts.
This story is from the November 27, 2024 edition of Business Standard.
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