Adani deal under bribery scrutiny was approved against officials' advice
The Hindu
SECI approached Andhra Pradesh for India's largest renewables contract, leading to a controversial deal with Adani Green.
The approach from the Solar Energy Corporation of India (SECI) on September 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 no short-term need for solar power, and should focus on other renewables that could provide 24-hour energy.
Also read | A ‘bribery scheme’ to bag lucrative solar power contracts
But just a day after SECI approached the State government, the 26-member State Cabinet led by then-Chief Minister Y.S. Jagan Mohan Reddy gave the deal its preliminary approval, according to Cabinet records seen by Reuters.
While SECI's September 15 letter did not name the energy supplier, it was publicly known at the time that the federal agency had only contracted with two suppliers, the larger of which was controlled by billionaire Gautam Adani, according to past statements from the two companies.
By November 11, the State government had secured the nod from the energy regulator. On December 1, State authorities signed a procurement agreement with SECI for the deal, which could eventually be worth over $490 million annually.
As much as 97% of that will go to Adani Green, the renewables unit of the billionaire's Adani Group conglomerate, according to documents related to the agreement, reviewed by Reuters.
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