• Latest
  • Trending
  • All
  • India
  • Business
  • Politics
  • World
  • Lifestyle
  • Technology
Will bribery charges against Adani derail India's green goals?

Will bribery charges against Adani derail India’s green goals?

December 11, 2024
Meta launches futuristic Ray-Ban display glasses, cheaper Ray-Ban Meta 2 and Oakley Vanguard for athletes

Meta Launches Futuristic Ray-Ban Display Glasses, Cheaper Ray-Ban Meta 2 And Oakley Vanguard For Athletes

September 18, 2025
Asia Cup: Bangladesh pray as Afghanistan, Sri Lanka face off in tense Super 4 race

Asia Cup: Bangladesh Pray As Afghanistan, Sri Lanka Face Off In Tense Super 4 Race

September 18, 2025
ITR refund 2025: How long will it take to reach you?

ITR Refund 2025: How Long Will It Take To Reach You?

September 18, 2025
Azim Premji Scholarship 2025: Eligibility, documents required & more to apply for ₹30,000 scholarships; check details

Azim Premji Scholarship 2025: Eligibility, Documents Required & More To Apply For ₹30,000 Scholarships; Check Details

September 18, 2025
Gynaecologist explains how maternal cardiac health is crucial during pregnancy; shares 4 tips to maintain heart health

Gynaecologist Explains How Maternal Cardiac Health Is Crucial During Pregnancy; Shares 4 Tips To Maintain Heart Health

September 18, 2025
Dermatologist shares 5 summer and 5 winter tips for healthy, shiny and strong hair

Dermatologist Shares 5 Summer And 5 Winter Tips For Healthy, Shiny And Strong Hair

September 18, 2025
‘Where is Sanya Malhotra?’: Janhvi Kapoor's new Sunny Sanskari song with Guru Randhawa leaves internet miffed

‘Where Is Sanya Malhotra?’: Janhvi Kapoor’s New Sunny Sanskari Song With Guru Randhawa Leaves Internet Miffed

September 18, 2025
EC rejects Rahul Gandhi’s charge against CEC Gyanesh Kumar as ‘baseless’

EC Rejects Rahul Gandhi’s Charge Against CEC Gyanesh Kumar As ‘Baseless’

September 18, 2025
‘I respect all religions’: CJI BR Gavai after Khajuraho idol remarks row

‘I Respect All Religions’: CJI BR Gavai After Khajuraho Idol Remarks Row

September 18, 2025
Top 5 takeaways from Pakistan-Saudi Arabia defence pact as regional tensions escalate

Top 5 Takeaways From Pakistan-Saudi Arabia Defence Pact As Regional Tensions Escalate

September 18, 2025
Windows 10 is ending soon and Microsoft is putting millions of users at risk, consumer watchdog says

Windows 10 Is Ending Soon And Microsoft Is Putting Millions Of Users At Risk, Consumer Watchdog Says

September 17, 2025
Asia Cup, Super 4 Scenario: How can Bangladesh, Afghanistan, Sri Lanka qualify

Asia Cup, Super 4 Scenario: How Can Bangladesh, Afghanistan, Sri Lanka Qualify

September 17, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, September 18, 2025
No Result
View All Result
Daily News Broadcast India
  • India
    • All
    • Politics
    EC rejects Rahul Gandhi’s charge against CEC Gyanesh Kumar as ‘baseless’

    EC Rejects Rahul Gandhi’s Charge Against CEC Gyanesh Kumar As ‘Baseless’

    ‘I respect all religions’: CJI BR Gavai after Khajuraho idol remarks row

    ‘I Respect All Religions’: CJI BR Gavai After Khajuraho Idol Remarks Row

    On birthday, PM Modi reacts to Jaish commander’s rare admission on Operation Sindoor

    On Birthday, PM Modi Reacts To Jaish Commander’s Rare Admission On Operation Sindoor

    Delhi BMW crash: Court extends judicial custody of Gaganpreet Kaur till Sept 27

    Delhi BMW Crash: Court Extends Judicial Custody Of Gaganpreet Kaur Till Sept 27

    Shahid Afridi's ‘positive mindset’ comment on Rahul Gandhi leaves BJP fuming

    Shahid Afridi’s ‘Positive Mindset’ Comment On Rahul Gandhi Leaves BJP Fuming

    After Indian man Chandra Nagamallaiah beheaded, ‘if you come to US…’ warning to ‘barbaric criminals’

    After Indian Man Chandra Nagamallaiah Beheaded, ‘If You Come to US…’ Warning To ‘Barbaric Criminals’

    US chief negotiator coming to India to resume trade deal talks, says report days after Trump-Modi icebreaker

    US Chief Negotiator Coming To India To Resume Trade Deal Talks, Says Report Days After Trump-Modi Icebreaker

    Mumbai on red alert for heavy rain; IMD downgrades alert for Thane, Raigad

    Mumbai On Red Alert For Heavy Rain; IMD Downgrades Alert For Thane, Raigad

    Disturbing video shows Indian man being chased, beheaded in Texas in front of wife, son

    Disturbing Video Shows Indian Man Being Chased, Beheaded In Texas In Front Of Wife, Son

    PM Modi in Manipur tomorrow, his first visit since ethnic violence broke out 2 years ago

    PM Modi In Manipur Tomorrow, His First Visit Since Ethnic Violence Broke Out 2 Years Ago

    Trending Tags

    • Politics
  • Entertainment
    ‘Where is Sanya Malhotra?’: Janhvi Kapoor's new Sunny Sanskari song with Guru Randhawa leaves internet miffed

    ‘Where Is Sanya Malhotra?’: Janhvi Kapoor’s New Sunny Sanskari Song With Guru Randhawa Leaves Internet Miffed

    Unseen first look into Cocktail 2: Homi Adajania drops BTS snaps of Kriti Sanon, Rashmika Mandanna; leaves fans hyped

    Unseen First Look Into Cocktail 2: Homi Adajania Drops BTS Snaps Of Kriti Sanon, Rashmika Mandanna; Leaves Fans Hyped

    Ba***ds of Bollywood actor Raghav Juyal reveals why Aryan Khan ‘likes to stay in attitude’, not smile in front of camera

    Ba***ds of Bollywood Actor Raghav Juyal Reveals Why Aryan Khan ‘Likes To Stay In Attitude’, Not Smile In Front Of Camera

    Katrina Kaif and Vicky Kaushal to welcome their first baby soon? Fans shower love: ‘After years of rumours…’

    Katrina Kaif And Vicky Kaushal To Welcome Their First Baby Soon? Fans Shower Love: ‘After Years Of Rumours…’

    Mirai movie review: Teja Sajja, Manchu Manoj's Anime-style film works when it isn't indulgent

    Mirai Movie Review: Teja Sajja, Manchu Manoj’s Anime-style Film Works When It Isn’t Indulgent

    Virat Kohli and Anushka Sharma were asked to leave a cafe in New Zealand for this shocking reason

    Virat Kohli And Anushka Sharma Were Asked To Leave A Cafe In New Zealand For This Shocking Reason

    Saiyaara extended music album: YRF releases 2 new songs from Ahaan Panday, Aneet Padda's blockbuster hit

    Saiyaara Extended Music Album: YRF Releases 2 New Songs From Ahaan Panday, Aneet Padda’s Blockbuster Hit

    Ananya Panday reveals how she got emotional over brother Ahaan Panday's Saiyaara debut: ‘I just started howling..’

    Ananya Panday Reveals How She Got Emotional Over Brother Ahaan Panday’s Saiyaara Debut: ‘I Just Started Howling..’

    Baaghi 4 worldwide box office collection day 3: Tiger Shroff, Sanjay Dutt film lags behind Baaghi 3 over 1st weekend

    Baaghi 4 Worldwide Box Office Collection Day 3: Tiger Shroff, Sanjay Dutt Film Lags Behind Baaghi 3 Over 1st Weekend

    Maalik OTT release: When and where to watch Rajkummar Rao's mass action hero avatar on streaming

    Maalik OTT Release: When And Where To Watch Rajkummar Rao’s Mass Action Hero Avatar On Streaming

  • Lifestyle
  • Sports
  • Business
  • Technology
  • World
  • Videos
  • Covid19
  • Opinion
DNB india
No Result
View All Result
Home India

Will bribery charges against Adani derail India’s green goals?

by DNB ind News Desk
December 11, 2024
in India
0
Will bribery charges against Adani derail India's green goals?

Billionaire Gautam Adani, who founded the Adani Group, was charged with fraud in the US last month

1
SHARES
3
VIEWS
Share on FacebookShare on TwitterShare to Whatspp

Bribery charges by a US court against the Adani Group are unlikely to significantly upset India’s clean energy goals, industry leaders have told the BBC.

Delhi has pledged to source half of its energy needs or 500 gigawatts (GW) of electricity from renewable sources by 2032, key to global efforts to combat climate change.

The Adani Group is slated to contribute to a tenth of that capacity.

The legal troubles in the US could temporarily delay the group’s expansion plans but will not affect the government’s overall targets, analysts say.

India has made impressive strides in building clean energy infrastructure over the last decade.

The country is growing at the “fastest rate among major economies” in adding renewables capacity, according to the International Energy Agency.

Installed clean energy capacity has grown five-fold, with some 45% of the country’s power-generation capacity – of nearly 200GW – coming from non-fossil fuel sources.

Charges against the Adani Group – crucial to India’s clean energy ambitions – are “like a passing dark cloud”, and will not meaningfully impact this momentum, a former CEO of a rival firm said, wanting to remain anonymous.

Getty Images A maintenance worker inspects solar panels at a solar power plant operated by Ayana Renewable Power Pvt. in Tuticorin, India, on Wednesday, March 20, 2024.
Getty Images  India has pledged to source half of its energy needs from renewable sources by 2032

Gautam Adani has vowed to invest $100bn (£78.3bn) in India’s energy transition. Its green energy arm is the country’s largest renewable energy company, producing nearly 11GW of clean energy through a diverse portfolio of wind and solar projects.

Adani has a target to scale that to 50GW BY 2030, which will make up nearly 10% of the country’s own installed capacity.

Over half of that, or 30GW, will be produced at Khavda, in the western Indian state of Gujarat. It is the world’s biggest clean energy plant, touted to be five times the size of Paris and the centrepiece in Adani’s renewables crown.

But Khavda and Adani’s other renewables facilities are now at the very centre of the charges filed by US prosecutors – they allege that the company won contracts to supply power to state distribution companies from these facilities, in exchange for bribes to Indian officials. The group has denied this.

But the fallout at the company level is already visible.

When the indictment became public, Adani Green Energy immediately cancelled a $600m bond offering in the US.

France’s TotalEnergies, which owns 20% of Adani Green Energy and has a joint venture to develop several renewables projects with the conglomerate, said it will halt fresh capital infusion into the company.

Major credit ratings agencies – Moody’s, Fitch and S&P – have since changed their outlook on Adani group companies, including Adani Green Energy, to negative. This will impact the company’s capacity to access funds and make it more expensive to raise capital.

Analysts have also raised concerns about Adani Green Energy’s ability to refinance its debt, as international lenders grow weary of adding exposure to the group.

Global lenders like Jeffries and Barclays are already said to be reviewing their ties with Adani even as the group’s reliance on global banks and international and local bond issues for long-term debt has grown from barely 14% in financial year 2016 to nearly 60% as of date, according to a note from Bernstein.

Japanese brokerage Nomura says new financing might dry up in the short term but should “gradually resume in the long term”. Meanwhile, Japanese banks like MUFG, SMBC, Mizuho are likely to continue their relationship with the group.

The “reputational and sentimental impact” will fade away in a few months, as Adani is building “solid, strategic assets and creating long-term value”, the unnamed CEO said.

Getty Images This aerial photograph taken on October 15, 2024 shows solar panels installed at the Adani Green Renewable Energy Plant in Khavda, in India's Gujarat state.
Getty Images The Adani Group’s Khavda facility is the world’s biggest clean energy plant

A spokesperson for the Adani Group told the BBC that it was “committed to its 2030 targets and confident of delivering 50 GW of renewable energy capacity”.

Adani stocks have recovered sharply from the lows they hit post the US court indictment.

Some analysts told the BBC that a possible slowdown in funding for Adani could in fact end up benefitting its competitors.

While Adani’s financial influence has allowed it to rapidly expand in the sector, its competitors such as Tata Power, Goldman Sachs-backed ReNew Power, Greenko and state-run NTPC Ltd are also significantly ramping up manufacturing and generation capacity.

“It’s not that Adani is a green energy champion. It is a big player that has walked both sides of the street, being the biggest private developer of coal plants in the world,” said Tim Buckley, director at Climate Energy Finance.

A large entity, “perceived to be corrupt” possibly slowing its expansion, could mean “more money will start flowing into other green energy companies”, he said.

According to Vibhuti Garg, South Asia director at Institute for Energy Economics and Financial Analysis (IEEFA), market fundamentals also continue to remain strong with demand for renewable energy outpacing supply in India – which is likely to keep the appetite for big investments intact.

What could in fact slow the pace of India’s clean energy ambitions is its own bureaucracy.

“Companies we track are very upbeat. Finance isn’t a problem for them. If anything, it is state-level regulations that act as a kind of deterrent,” says Ms Garg.

Most state-run power distribution companies continue to face financial constraints, opting for cheaper fossil fuels, while dragging their feet on signing purchase agreements.

According to Reuters, the controversial tender won by Adani was the first major contract issued by state-run Solar Energy Corp of India (SECI) without a guaranteed purchase agreement from distributors.

SECI’s chairman told Reuters that there are 30GW of operational green energy projects in the market without buyers.

Experts say the 8GW solar contract at the heart of Adani’s US indictment also sheds light on the messy tendering process, which required solar power generation companies to manufacture modules as well – limiting the number of bidders and leading to higher power costs.

The court indictment will certainly lead to a “tightening of bidding and tendering rules”, says Ms Garg.

A cleaner tendering process that lowers risks both for developers and investors will be important going ahead, agrees Mr Buckley.

Source: BBC

Related

Tags: Adani
ShareTweetSend
DNB ind News Desk

DNB ind News Desk

  • Trending
  • Comments
  • Latest
Yamaha MT-15 V2.0 launched in India, priced at Rs 1.60 lakh

Yamaha MT-15 V2.0 launched in India, priced at Rs 1.60 lakh

April 12, 2022
Shilpa Shetty to Tejasswi Prakash, These Stars Live Life Queen Size

Shilpa Shetty to Tejasswi Prakash, These Stars Live Life Queen Size

April 15, 2022
Saina Nehwal’s CWG and Asian Games title defense under threat due to THIS reason

Saina Nehwal’s CWG and Asian Games title defense under threat due to THIS reason

April 12, 2022

COVID-19 update: India records 7,579 new cases, 236 deaths in last 24 hours

0

Team India vice-captain Cheteshwar Pujara to carry ‘fearless mindset’ from England into NZ Tests

0

Breaking: Andhra Pradesh Assembly passes resolution, asks Centre for caste-based census of backward classes

0
Meta launches futuristic Ray-Ban display glasses, cheaper Ray-Ban Meta 2 and Oakley Vanguard for athletes

Meta Launches Futuristic Ray-Ban Display Glasses, Cheaper Ray-Ban Meta 2 And Oakley Vanguard For Athletes

September 18, 2025
Asia Cup: Bangladesh pray as Afghanistan, Sri Lanka face off in tense Super 4 race

Asia Cup: Bangladesh Pray As Afghanistan, Sri Lanka Face Off In Tense Super 4 Race

September 18, 2025
ITR refund 2025: How long will it take to reach you?

ITR Refund 2025: How Long Will It Take To Reach You?

September 18, 2025
Daily News Broadcast India

Copyright © 2023 Daily News Broadcast India.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • India
    • Politics
    • Business
    • World
  • Entertainment
    • Sports
  • Covid19
  • Business
  • Technology
  • Lifestyle

Copyright © 2023 Daily News Broadcast India.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?