Fri Nov 22 21:12:55 UTC 2024: ## TotalEnergies Investment in Adani Solar Project Under Scrutiny Amidst US Bribery Charges
**PARIS, November 23, 2024** – The $444 million investment by French energy giant TotalEnergies in an Adani Green Energy solar project is under renewed scrutiny following the indictment of Gautam Adani, his nephew Sagar Adani, and seven others on bribery charges by US prosecutors. The indictment alleges that the Adanis and others engaged in a scheme to bribe Indian officials between July 2021 and 2024 to secure advantages for the Khavda solar park project.
TotalEnergies acquired a 50% stake in 1.15 gigawatts of solar installations at the Khavda solar park in September 2024. US prosecutors claim that the Adanis were already under investigation by the FBI for alleged bribery when the deal was made, with a search warrant and grand jury subpoena served on Sagar Adani in March 2023. These documents reportedly named Gautam Adani and former Adani Green Energy CEO Vneet Jaain as part of the investigation.
TotalEnergies, which also holds a 20% stake in Adani Green Energy acquired in 2021, has not yet commented on whether it was aware of the ongoing US investigation before its investment in the Khavda project. The Adani Group has dismissed the allegations as baseless. The French company is not named in the criminal case. The situation raises questions about TotalEnergies’ due diligence practices and its future involvement with the Adani Group.
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