NEW YORK: In June of 2020, a renewable energy company owned by Indian billionaire Gautam Adani won what it called the single largest solar development bid ever awarded: an agreement to supply 8 gigawatts of electricity to a state-owned power company. Local power companies did not want to pay the prices the state company was offering, jeopardizing the deal, according to US authorities. It was a major step forward for Adani Green Energy, run by Adani’s nephew, Sagar Adani. Sagar Adani and the Azure CEO at the time discussed the delays and hinted at bribes on the encrypted messaging application WhatsApp, according to the SEC. When the Azure CEO wrote on November 24, 2020, that the local power companies “are being motivated,” Sagar Adani allegedly replied, “Yup … but the optics are very difficult to cover.

Source: Pakistan Today November 22, 2024 18:49 UTC