Adani Group’s troubles show no signs of easing. While the company struggles with fresh bribery allegations from US authorities, India’s Solar Energy Corporation of India (SECI) is set to implement new tender rules to address corruption risks and for greater transparency in the renewable energy sector.
Earlier U.S. authorities raised bribery allegations involving the Adani Group and several states in solar power deals between 2021 and 2022.
However, U.S. authorities have not accused SECI of any involvement. SECI, which facilitates renewable energy projects by linking producers with buyers, stated it has “no basis so far” to start investigations.
The agency has proactively repaired its process for damage control to restore confidence.
Instead of the earlier method of issuing tenders and then seeking buyers, the new policy, about 75% of bids for renewable power will now be based on specific state demands
An official source stated that the previous practice exposed the system to corruption risks, for nearly 90% of bids, as the buyers signed the deals under the influence of power producers even when power wasn’t needed.
While the allegations targeted unidentified officials, the Adani Group continuously denied any misconduct, calling the claims “baseless.” SECI clarified that no domestic or international agency has requested the investigations yet.
While SECI remains safe and unaffected, the controversy may temporarily impact foreign investments in India’s renewable energy sector. The agency anticipates a slowdown in tendering for the fiscal year ending March 2025, adding further strain to India’s ambitious target of achieving 500 GW of renewable capacity by 2030.
The situation raises concerns about transparency in India’s clean energy journey, but SECI’s move to prioritize demand-based tendering signals a step toward tighter governance and renewed investor confidence.
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