Wed Nov 27 11:48:57 UTC 2024: ## Andhra Pradesh to Investigate Adani Power Contract After US Bribery Indictment
**Hyderabad, India** – The Andhra Pradesh state government is launching a review of a power supply contract with the Adani Group following a US indictment alleging bribery by Adani executives. The indictment accuses Gautam Adani and others of paying $265 million in bribes to secure solar power contracts across several Indian states, with the largest portion – $228 million – allegedly directed to Andhra Pradesh officials. This resulted in a contract for approximately seven gigawatts of solar power, the largest such deal in India.
Andhra Pradesh Finance Minister Payyavula Keshav stated that the government is examining internal files from the previous administration, under which the alleged misconduct occurred, to explore the possibility of canceling the contract. The Adani Group has denied the allegations, and the previous ruling party, YSR Congress Party, has also refuted any wrongdoing.
The US indictment marks a significant blow to the Adani Group, whose stock prices have plummeted since the charges were filed. International partners are also reacting, with French energy giant TotalEnergies halting further investment in the Adani Group. The Andhra Pradesh government’s investigation will determine the future of this substantial power contract.
First Piper 