Adani Green Energy
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July 10 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - OPERATIONAL CAPACITY INCREASED BY 27% YOY TO 20,142 MW IN Q1
ADANI GREEN ENERGY LTD - SALE OF ENERGY INCREASED BY 30% YOY AT 13.7 BILLION UNITS IN Q1 FY27
Source text: ID:nNSE8WP9wM
Further company coverage: ADNA.NS
(([email protected];))
July 10 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - OPERATIONAL CAPACITY INCREASED BY 27% YOY TO 20,142 MW IN Q1
ADANI GREEN ENERGY LTD - SALE OF ENERGY INCREASED BY 30% YOY AT 13.7 BILLION UNITS IN Q1 FY27
Source text: ID:nNSE8WP9wM
Further company coverage: ADNA.NS
(([email protected];))
July 1 (Reuters) - Adani Green Energy Ltd ADNA.NS:
156 MW RENEWABLE ENERGY PROJECTS AT KHAVDA COMMERCIALLY OPERATIONALIZED
185 MWH BESS PROJECTS AT KHAVDA COMMERCIALLY OPERATIONALIZED
Source text: ID:nBSEc4ZDGl
Further company coverage: ADNA.NS
(([email protected];;))
July 1 (Reuters) - Adani Green Energy Ltd ADNA.NS:
156 MW RENEWABLE ENERGY PROJECTS AT KHAVDA COMMERCIALLY OPERATIONALIZED
185 MWH BESS PROJECTS AT KHAVDA COMMERCIALLY OPERATIONALIZED
Source text: ID:nBSEc4ZDGl
Further company coverage: ADNA.NS
(([email protected];;))
June 9 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ARDOUR INVESTMENT HOLDING SELLS 21.5 MILLION ADANI GREEN ENERGY SHARES AT 1510 RUPEESPER SHARE VIA BULK DEAL - NSE DATA
ADANI INFRA (INDIA) BUYS 21.5 MILLION ADANI GREEN ENERGY SHARES AT 1510 RUPEESPER SHARE VIA BULK DEAL - NSE DATA
Further company coverage: ADNA.NS
(([email protected];))
June 9 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ARDOUR INVESTMENT HOLDING SELLS 21.5 MILLION ADANI GREEN ENERGY SHARES AT 1510 RUPEESPER SHARE VIA BULK DEAL - NSE DATA
ADANI INFRA (INDIA) BUYS 21.5 MILLION ADANI GREEN ENERGY SHARES AT 1510 RUPEESPER SHARE VIA BULK DEAL - NSE DATA
Further company coverage: ADNA.NS
(([email protected];))
May 26 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - COMMERCIALLY OPERATIONALIZED AN AGGREGATE 1,990 MWH BESS PROJECTS AT KHAVDA, GUJARAT
ADANI GREEN ENERGY LTD - COMMERCIALLY OPERATIONALIZED A 50 MW SOLAR ENERGY PROJECT AT KHAVDA, GUJARAT
Source text: ID:nBSE4nrPq3
Further company coverage: ADNA.NS
(([email protected];))
May 26 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - COMMERCIALLY OPERATIONALIZED AN AGGREGATE 1,990 MWH BESS PROJECTS AT KHAVDA, GUJARAT
ADANI GREEN ENERGY LTD - COMMERCIALLY OPERATIONALIZED A 50 MW SOLAR ENERGY PROJECT AT KHAVDA, GUJARAT
Source text: ID:nBSE4nrPq3
Further company coverage: ADNA.NS
(([email protected];))
May 20 (Reuters) - Adani Green Energy Ltd ADNA.NS:
FITCH -AFFIRMED ADANI GREEN ENERGY LIMITED RESTRICTED GROUP 1'S $409 MILLION SENIOR SECURED, FULLY AMORTISING NOTES DUE 2042 AT BBB-
Source text: [ID:]
Further company coverage: ADNA.NS
(([email protected];))
May 20 (Reuters) - Adani Green Energy Ltd ADNA.NS:
FITCH -AFFIRMED ADANI GREEN ENERGY LIMITED RESTRICTED GROUP 1'S $409 MILLION SENIOR SECURED, FULLY AMORTISING NOTES DUE 2042 AT BBB-
Source text: [ID:]
Further company coverage: ADNA.NS
(([email protected];))
Updates levels, adds background throughout, adds analyst comments in paragraph 7, adds graphic
By Surbhi Misra
May 19 (Reuters) - Shares of Adani Group companies jumped as much as 5.3% on Tuesday, after the Trump administration moved to dismiss criminal fraud charges against billionaire Gautam Adani, easing a key legal overhang on the ports-to-power conglomerate.
The U.S. Justice Department on Monday moved to drop charges accusing Adani and associates of paying bribes to secure power supply contracts in India, while Adani Enterprises separately settled allegations tied to liquefied petroleum gas imports from Iran.
Shares of the group's flagship, Adani Enterprises ADEL.NS, rose as much as 2.71% and were last up 1.75% at 2736.70 rupees by 1:45 p.m. IST.
Adani Group stocks have been volatile since short seller Hindenburg Research's 2023 report alleging stock manipulation and improper use of offshore tax havens, with several companies recovering sharply from initial losses before coming under renewed pressure amid broader market weakness and legal scrutiny.
In November, U.S. prosecutors accused Gautam Adani and associates of agreeing to pay $265 million in bribes to Indian officials to secure approvals for solar power projects and misleading U.S. investors about the group's anti-corruption practices.
Adani Group has repeatedly denied wrongdoing.
Separately, the U.S. Treasury Department on Monday said Adani Enterprises had agreed to pay $275 million to resolve alleged sanctions violations tied to liquefied petroleum gas imports from Iran.
"The removal of the legal overhang is a positive and could support debt refinancing and fundraising for new projects," said Deven Choksey, managing director at DRChoksey FinServ, adding that the development could also pave the way for restructuring initiatives across the conglomerate.
Shares of Adani Green Energy ADNA.NS, which was linked to the U.S. bribery allegations, were last up 1.77%, after rising as much as 5.26% during the day.
As of 1:45 p.m. IST, Adani Ports APSE.NS inched down 0.12%, while Adani Energy Solutions ADAI.NS gained 0.67%.
The U.S. Securities and Exchange Commission separately settled a civil lawsuit against Adani over an alleged scheme to bribe Indian government officials, court records showed last week.
Most Adani stocks yet to recover from Hindenburg losses https://reut.rs/4nzifvv
(Reporting by Surbhi Misra; Editing by Rashmi Aich)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Updates levels, adds background throughout, adds analyst comments in paragraph 7, adds graphic
By Surbhi Misra
May 19 (Reuters) - Shares of Adani Group companies jumped as much as 5.3% on Tuesday, after the Trump administration moved to dismiss criminal fraud charges against billionaire Gautam Adani, easing a key legal overhang on the ports-to-power conglomerate.
The U.S. Justice Department on Monday moved to drop charges accusing Adani and associates of paying bribes to secure power supply contracts in India, while Adani Enterprises separately settled allegations tied to liquefied petroleum gas imports from Iran.
Shares of the group's flagship, Adani Enterprises ADEL.NS, rose as much as 2.71% and were last up 1.75% at 2736.70 rupees by 1:45 p.m. IST.
Adani Group stocks have been volatile since short seller Hindenburg Research's 2023 report alleging stock manipulation and improper use of offshore tax havens, with several companies recovering sharply from initial losses before coming under renewed pressure amid broader market weakness and legal scrutiny.
In November, U.S. prosecutors accused Gautam Adani and associates of agreeing to pay $265 million in bribes to Indian officials to secure approvals for solar power projects and misleading U.S. investors about the group's anti-corruption practices.
Adani Group has repeatedly denied wrongdoing.
Separately, the U.S. Treasury Department on Monday said Adani Enterprises had agreed to pay $275 million to resolve alleged sanctions violations tied to liquefied petroleum gas imports from Iran.
"The removal of the legal overhang is a positive and could support debt refinancing and fundraising for new projects," said Deven Choksey, managing director at DRChoksey FinServ, adding that the development could also pave the way for restructuring initiatives across the conglomerate.
Shares of Adani Green Energy ADNA.NS, which was linked to the U.S. bribery allegations, were last up 1.77%, after rising as much as 5.26% during the day.
As of 1:45 p.m. IST, Adani Ports APSE.NS inched down 0.12%, while Adani Energy Solutions ADAI.NS gained 0.67%.
The U.S. Securities and Exchange Commission separately settled a civil lawsuit against Adani over an alleged scheme to bribe Indian government officials, court records showed last week.
Most Adani stocks yet to recover from Hindenburg losses https://reut.rs/4nzifvv
(Reporting by Surbhi Misra; Editing by Rashmi Aich)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Prosecutors alleged Adani paid bribes for solar project, Adani denies allegations
Adani and nephew settle related SEC civil fraud case for $18 million, deny wrongdoing
Adani's lawyers had argued U.S. lacked jurisdiction and evidence
By Dan Rosenzweig-Ziff and Andrew Goudsward
May 15 (Reuters) - The U.S. Justice Department is close to dropping criminal fraud charges against Gautam Adani, an Indian billionaire who has promised to invest $10 billion in the U.S. economy, according to two sources familiar with the matter.
Adani on Thursday also resolved a related civil fraud lawsuit brought by the Securities and Exchange Commission (SEC) over an alleged scheme to bribe Indian government officials, subject to court approval.
The possible dismissal of the criminal charges comes after Adani's lawyer, Robert Giuffra, who is also a personal attorney of U.S. President Donald Trump, told Justice Department officials in a presentation last month that Adani could not make that investment while the case was proceeding, one of the sources said.
Adani had publicly promised to invest that amount and create 15,000 jobs in the U.S. after Trump's victory in the 2024 election.
Giuffra spent the bulk of his 100-page presentation arguing the case was weak because it did not have proper jurisdiction and lacked evidence, said the source, who spoke on condition of anonymity. Giuffra made a similar argument in court filings in the parallel SEC case last month.
Some prosecutors made clear that the $10 billion investment would not affect the case, one of the sources said. It's unclear if others saw it differently.
The Justice Department did not immediately respond to a request for comment.
Bloomberg News first reported that the Justice Department was close to dismissing Adani's case.
It is the latest example of Trump's Justice Department seeking to abandon a high-profile criminal case brought by federal prosecutors during the tenure of his Democratic predecessor, Joe Biden.
In November 2024, federal prosecutors in Brooklyn charged Adani over an alleged scheme in which they said he agreed to pay about $265 million in bribes to Indian government officials so his company could win approval to develop India's largest solar power plant.
Adani and his alleged co-conspirators raised more than $3 billion in loans and bonds by hiding their corruption from lenders and investors, prosecutors said.
The Adani Group has called the allegations "baseless."
RELATED CIVIL FRAUD CASE ALSO RESOLVED
Adani also faced a related SEC civil fraud lawsuit, which the securities regulator settled on Thursday subject to court approval, court records showed. Sagar Adani, the nephew of Gautam Adani, was also facing the SEC civil claims.
Adani and his nephew would pay civil penalties of $18 million, though neither would admit or deny any wrongdoing, the court records showed.
Adani Green Energy ADNA.NS said in a statement the two men and the SEC had filed with a New York court for the entry of a final judgement, which was now being awaited.
The Adanis' lawyers last month said their clients disputed there was any credible evidence supporting the bribery scheme alleged by the SEC.
They said the Adanis' lack of involvement in the offering, and the absence of any intent to defraud or negligence, supported a dismissal.
They also called the SEC claims "impermissibly extraterritorial," reflecting how the Adanis and all alleged misconduct were in India, and the bonds were never traded on a U.S. exchange.
The 63-year-old Adani is worth $82 billion, according to Forbes magazine, making him one of the world's richest people.
(Additonal reporting by Luc Cohen in New York and Anusha Shah in Bengaluru; writing by Scott Murdoch. Editing by Andy Sullivan, Lincoln Feast and John Mair.)
(([email protected];))
Prosecutors alleged Adani paid bribes for solar project, Adani denies allegations
Adani and nephew settle related SEC civil fraud case for $18 million, deny wrongdoing
Adani's lawyers had argued U.S. lacked jurisdiction and evidence
By Dan Rosenzweig-Ziff and Andrew Goudsward
May 15 (Reuters) - The U.S. Justice Department is close to dropping criminal fraud charges against Gautam Adani, an Indian billionaire who has promised to invest $10 billion in the U.S. economy, according to two sources familiar with the matter.
Adani on Thursday also resolved a related civil fraud lawsuit brought by the Securities and Exchange Commission (SEC) over an alleged scheme to bribe Indian government officials, subject to court approval.
The possible dismissal of the criminal charges comes after Adani's lawyer, Robert Giuffra, who is also a personal attorney of U.S. President Donald Trump, told Justice Department officials in a presentation last month that Adani could not make that investment while the case was proceeding, one of the sources said.
Adani had publicly promised to invest that amount and create 15,000 jobs in the U.S. after Trump's victory in the 2024 election.
Giuffra spent the bulk of his 100-page presentation arguing the case was weak because it did not have proper jurisdiction and lacked evidence, said the source, who spoke on condition of anonymity. Giuffra made a similar argument in court filings in the parallel SEC case last month.
Some prosecutors made clear that the $10 billion investment would not affect the case, one of the sources said. It's unclear if others saw it differently.
The Justice Department did not immediately respond to a request for comment.
Bloomberg News first reported that the Justice Department was close to dismissing Adani's case.
It is the latest example of Trump's Justice Department seeking to abandon a high-profile criminal case brought by federal prosecutors during the tenure of his Democratic predecessor, Joe Biden.
In November 2024, federal prosecutors in Brooklyn charged Adani over an alleged scheme in which they said he agreed to pay about $265 million in bribes to Indian government officials so his company could win approval to develop India's largest solar power plant.
Adani and his alleged co-conspirators raised more than $3 billion in loans and bonds by hiding their corruption from lenders and investors, prosecutors said.
The Adani Group has called the allegations "baseless."
RELATED CIVIL FRAUD CASE ALSO RESOLVED
Adani also faced a related SEC civil fraud lawsuit, which the securities regulator settled on Thursday subject to court approval, court records showed. Sagar Adani, the nephew of Gautam Adani, was also facing the SEC civil claims.
Adani and his nephew would pay civil penalties of $18 million, though neither would admit or deny any wrongdoing, the court records showed.
Adani Green Energy ADNA.NS said in a statement the two men and the SEC had filed with a New York court for the entry of a final judgement, which was now being awaited.
The Adanis' lawyers last month said their clients disputed there was any credible evidence supporting the bribery scheme alleged by the SEC.
They said the Adanis' lack of involvement in the offering, and the absence of any intent to defraud or negligence, supported a dismissal.
They also called the SEC claims "impermissibly extraterritorial," reflecting how the Adanis and all alleged misconduct were in India, and the bonds were never traded on a U.S. exchange.
The 63-year-old Adani is worth $82 billion, according to Forbes magazine, making him one of the world's richest people.
(Additonal reporting by Luc Cohen in New York and Anusha Shah in Bengaluru; writing by Scott Murdoch. Editing by Andy Sullivan, Lincoln Feast and John Mair.)
(([email protected];))
April 24 (Reuters) - India's Adani Green Energy ADNA.NS reported an over 34% jump in its fourth-quarter profit on Friday, driven by higher power sales and increased capacity utilisation.
The green energy arm of billionaire Gautam Adani's group posted a consolidated profit of 34.2 billion rupees ($362.8 million) for the quarter ended March 31, up from 3.83 billion rupees a year ago.
India is aggressively expanding renewable energy to meet its climate goals, including a target of 500 gigawatts of non-fossil capacity by 2030.
This has been benefitting Adani Green, which is seen as a bellwether for the sector.
The company's revenue from power supply increased 16% to 30.94 billion rupees, while energy sales jumped 34%.
Its mainstay power supply unit also posted a 20% climb in its earnings before interest, tax, depreciation, and amortization to 29.44 billion rupees with margins unchanged at 91%.
Overall revenue climbed nearly 14% to 37.37 billion rupees.
Adani Green's operational capacity rose 35% during the fiscal year.
($1 = 94.2787 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; 8800437922;))
April 24 (Reuters) - India's Adani Green Energy ADNA.NS reported an over 34% jump in its fourth-quarter profit on Friday, driven by higher power sales and increased capacity utilisation.
The green energy arm of billionaire Gautam Adani's group posted a consolidated profit of 34.2 billion rupees ($362.8 million) for the quarter ended March 31, up from 3.83 billion rupees a year ago.
India is aggressively expanding renewable energy to meet its climate goals, including a target of 500 gigawatts of non-fossil capacity by 2030.
This has been benefitting Adani Green, which is seen as a bellwether for the sector.
The company's revenue from power supply increased 16% to 30.94 billion rupees, while energy sales jumped 34%.
Its mainstay power supply unit also posted a 20% climb in its earnings before interest, tax, depreciation, and amortization to 29.44 billion rupees with margins unchanged at 91%.
Overall revenue climbed nearly 14% to 37.37 billion rupees.
Adani Green's operational capacity rose 35% during the fiscal year.
($1 = 94.2787 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; 8800437922;))
April 9 (Reuters) - Two Point Zero Group PJSC 2POINTZERO.AD:
TWO POINT ZERO GROUP - UNIT ENTERED INTO A JV AGREEMENT WITH ADANI GREEN ENERGY LIMITED TO DEVELOP RENEWABLE ENERGY PROJECTS IN INDIA
TWO POINT ZERO GROUP - JOINT VENTURE WILL BE EXECUTED BY EPOINTZERO THROUGH MINERVA HOLDING RSC LTD.
TWO POINT ZERO GROUP - AGEL, THROUGH ITS UAE SUBSIDIARY, WILL INVEST UP TO 20% SHAREHOLDING IN THE JOINT VENTURE.
Source text: ID:nADX37C9sc
Further company coverage: 2POINTZERO.AD
(([email protected];))
April 9 (Reuters) - Two Point Zero Group PJSC 2POINTZERO.AD:
TWO POINT ZERO GROUP - UNIT ENTERED INTO A JV AGREEMENT WITH ADANI GREEN ENERGY LIMITED TO DEVELOP RENEWABLE ENERGY PROJECTS IN INDIA
TWO POINT ZERO GROUP - JOINT VENTURE WILL BE EXECUTED BY EPOINTZERO THROUGH MINERVA HOLDING RSC LTD.
TWO POINT ZERO GROUP - AGEL, THROUGH ITS UAE SUBSIDIARY, WILL INVEST UP TO 20% SHAREHOLDING IN THE JOINT VENTURE.
Source text: ID:nADX37C9sc
Further company coverage: 2POINTZERO.AD
(([email protected];))
April 8 (Reuters) - Adani Green Energy ADNA.NS on Wednesday said Gautam Adani and his nephew Sagar Adani plan to seek dismissal of a civil suit filed by the U.S. Securities and Exchange Commission in a New York court by April 30, citing lack of jurisdiction.
(Reporting by Nishit Navin; Editing by Sonia Cheema)
(([email protected];))
April 8 (Reuters) - Adani Green Energy ADNA.NS on Wednesday said Gautam Adani and his nephew Sagar Adani plan to seek dismissal of a civil suit filed by the U.S. Securities and Exchange Commission in a New York court by April 30, citing lack of jurisdiction.
(Reporting by Nishit Navin; Editing by Sonia Cheema)
(([email protected];))
SEC say Gautam Adani, Sagar Adani concealed bribery scheme in bond documents
Adanis dispute bribery accusations, deny involvement in bond offering
Related US criminal case dormant since late 2024
SEC had no immediate comment
Adds details from filing, related criminal case, background, paragraphs 4-11
By Jonathan Stempel
NEW YORK, April 7 (Reuters) - Gautam Adani, India's second richest person, will ask a U.S. judge to dismiss the Securities and Exchange Commission's civil fraud case stemming from an alleged bribery scheme, his lawyers said on Tuesday.
Adani and his nephew Sagar Adani were charged by the SEC in November 2024 with orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both men are executives and directors.
The securities fraud case is tied to Adani Green's alleged failure to disclose the scheme in documents for a $750 million bond offering in 2021.
In a filing in the Brooklyn, New York federal court, the Adanis' lawyers said their clients disputed there was any credible evidence supporting the alleged bribery scheme.
The lawyers said the Adanis' lack of involvement in the offering, and the absence of any intent to defraud or negligence, supported a dismissal.
They also called the SEC claims "impermissibly extraterritorial," reflecting how the Adanis and all alleged misconduct were in India, and the bonds were never traded on a U.S. exchange.
The SEC had no immediate comment. Lawyers for the Adanis said they will formally seek a dismissal by April 30.
U.S. prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case since December 2024. A spokesman for the U.S. Attorney's office in Brooklyn declined to comment.
Gautam Adani, 63, founded and chairs the conglomerate Adani Group, and is chairman of Adani Green.
He is worth about $60.6 billion, ranking 30th worldwide according to Forbes magazine.
Mukesh Ambani, chairman of the conglomerate Reliance Industries RELI.NS, is India's richest person, worth about $91.4 billion and ranking 20th worldwide, Forbes said.
(Reporting by Jonathan Stempel in New York
Editing by Tomasz Janowski and Bill Berkrot)
(([email protected] ; +1 646 223 6317; Reuters Messaging: [email protected] /))
SEC say Gautam Adani, Sagar Adani concealed bribery scheme in bond documents
Adanis dispute bribery accusations, deny involvement in bond offering
Related US criminal case dormant since late 2024
SEC had no immediate comment
Adds details from filing, related criminal case, background, paragraphs 4-11
By Jonathan Stempel
NEW YORK, April 7 (Reuters) - Gautam Adani, India's second richest person, will ask a U.S. judge to dismiss the Securities and Exchange Commission's civil fraud case stemming from an alleged bribery scheme, his lawyers said on Tuesday.
Adani and his nephew Sagar Adani were charged by the SEC in November 2024 with orchestrating a scheme to pay or promise to pay hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy ADNA.NS, where both men are executives and directors.
The securities fraud case is tied to Adani Green's alleged failure to disclose the scheme in documents for a $750 million bond offering in 2021.
In a filing in the Brooklyn, New York federal court, the Adanis' lawyers said their clients disputed there was any credible evidence supporting the alleged bribery scheme.
The lawyers said the Adanis' lack of involvement in the offering, and the absence of any intent to defraud or negligence, supported a dismissal.
They also called the SEC claims "impermissibly extraterritorial," reflecting how the Adanis and all alleged misconduct were in India, and the bonds were never traded on a U.S. exchange.
The SEC had no immediate comment. Lawyers for the Adanis said they will formally seek a dismissal by April 30.
U.S. prosecutors filed a related criminal case in November 2024 against the Adanis and several other defendants. There have been no public developments in that case since December 2024. A spokesman for the U.S. Attorney's office in Brooklyn declined to comment.
Gautam Adani, 63, founded and chairs the conglomerate Adani Group, and is chairman of Adani Green.
He is worth about $60.6 billion, ranking 30th worldwide according to Forbes magazine.
Mukesh Ambani, chairman of the conglomerate Reliance Industries RELI.NS, is India's richest person, worth about $91.4 billion and ranking 20th worldwide, Forbes said.
(Reporting by Jonathan Stempel in New York
Editing by Tomasz Janowski and Bill Berkrot)
(([email protected] ; +1 646 223 6317; Reuters Messaging: [email protected] /))
April 6 (Reuters) - Diamond Power Infrastructure Ltd DIAC.NS:
RECEIVES LETTER OF INTENT FROM ADANI GREEN ENERGY WORTH 195.7 MILLION RUPEES
Source text: ID:nBSE1t3BQb
Further company coverage: DIAC.NS
(([email protected];;))
April 6 (Reuters) - Diamond Power Infrastructure Ltd DIAC.NS:
RECEIVES LETTER OF INTENT FROM ADANI GREEN ENERGY WORTH 195.7 MILLION RUPEES
Source text: ID:nBSE1t3BQb
Further company coverage: DIAC.NS
(([email protected];;))
April 1 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - COMMERCIALLY OPERATIONALIZED RENEWABLE ENERGY PROJECTS AT BANDHA, RAJASTHAN AND KHAVDA, GUJARAT
ADANI GREEN ENERGY - OPERATIONALIZED BATTERY ENERGY STORAGE SYSTEM (BESS) PROJECTS AT GUJARAT
Source text: ID:nBSE2c1RMr
Further company coverage: ADNA.NS
(([email protected];;))
April 1 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - COMMERCIALLY OPERATIONALIZED RENEWABLE ENERGY PROJECTS AT BANDHA, RAJASTHAN AND KHAVDA, GUJARAT
ADANI GREEN ENERGY - OPERATIONALIZED BATTERY ENERGY STORAGE SYSTEM (BESS) PROJECTS AT GUJARAT
Source text: ID:nBSE2c1RMr
Further company coverage: ADNA.NS
(([email protected];;))
March 30 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - VIA ITS UNITS COMMERCIALLY OPERATIONALIZED 951 MW POWER PROJECTS AT BAIYA, RAJASTHAN AND KHAVDA, GUJARAT
Source text: ID:nBSE55h82h
Further company coverage: ADNA.NS
(([email protected];))
March 30 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - VIA ITS UNITS COMMERCIALLY OPERATIONALIZED 951 MW POWER PROJECTS AT BAIYA, RAJASTHAN AND KHAVDA, GUJARAT
Source text: ID:nBSE55h82h
Further company coverage: ADNA.NS
(([email protected];))
March 23 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY- THROUGH ITS VARIOUS UNITS OPERATIONALIZED ABOUT 510.1 MW POWER PROJECTS AT KHAVDA, GUJARAT
ADANI GREEN ENERGY LTD - AGEL TOTAL OPERATIONAL RENEWABLE GENERATION CAPACITY INCREASES TO 17,982.3 MW
ADANI GREEN ENERGY LTD - AGEL COMMENCES POWER GENERATION FROM NEW PLANTS ON MARCH 22, 2026
Source text: ID:nBSE92Xc49
Further company coverage: ADNA.NS
(([email protected];))
March 23 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY- THROUGH ITS VARIOUS UNITS OPERATIONALIZED ABOUT 510.1 MW POWER PROJECTS AT KHAVDA, GUJARAT
ADANI GREEN ENERGY LTD - AGEL TOTAL OPERATIONAL RENEWABLE GENERATION CAPACITY INCREASES TO 17,982.3 MW
ADANI GREEN ENERGY LTD - AGEL COMMENCES POWER GENERATION FROM NEW PLANTS ON MARCH 22, 2026
Source text: ID:nBSE92Xc49
Further company coverage: ADNA.NS
(([email protected];))
Feb 25 (Reuters) - Adani Green Energy Ltd ADNA.NS:
INCORPORATED SUBSIDIARY ADANI RENEWABLE ENERGY MIDDLE EAST
Source text: ID:nBSE9xgBV2
Further company coverage: ADNA.NS
(([email protected];;))
Feb 25 (Reuters) - Adani Green Energy Ltd ADNA.NS:
INCORPORATED SUBSIDIARY ADANI RENEWABLE ENERGY MIDDLE EAST
Source text: ID:nBSE9xgBV2
Further company coverage: ADNA.NS
(([email protected];;))
Feb 17 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - RENEWABLE ENERGY INCORPORATES SKYSPIN ENERGY LIMITED
Source text: ID:nNSE10hHgZ
Further company coverage: ADNA.NS
(([email protected];))
Feb 17 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - RENEWABLE ENERGY INCORPORATES SKYSPIN ENERGY LIMITED
Source text: ID:nNSE10hHgZ
Further company coverage: ADNA.NS
(([email protected];))
Feb 2 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - CLARIFIES ON REPORT ADANI GROUP PLANS TO RAISE $2 BILLION FROM JAPANESE MARKETS
ADANI GREEN ENERGY - CO KEEPS ON EXPLORING AND EVALUATING VARIOUS FINANCING / RE-FINANCING AND FUNDRAISING OPPORTUNITIES
Source text: ID:nBSE9tK4JP
Further company coverage: ADNA.NS
(([email protected];;))
Feb 2 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - CLARIFIES ON REPORT ADANI GROUP PLANS TO RAISE $2 BILLION FROM JAPANESE MARKETS
ADANI GREEN ENERGY - CO KEEPS ON EXPLORING AND EVALUATING VARIOUS FINANCING / RE-FINANCING AND FUNDRAISING OPPORTUNITIES
Source text: ID:nBSE9tK4JP
Further company coverage: ADNA.NS
(([email protected];;))
Jan 30 (Reuters) - Adani Green Energy Ltd ADNA.NS:
GAUTAM ADANI AND SAGAR ADANI HAVE TAKEN PROCEDURAL STEPS, INTEND TO MOVE TO DISMISS SEC’S COMPLAINT OR FILE RESPONSIVE PLEADINGS
Source text: ID:nBSEbY7HMY
Further company coverage: ADNA.NS
(([email protected];))
Jan 30 (Reuters) - Adani Green Energy Ltd ADNA.NS:
GAUTAM ADANI AND SAGAR ADANI HAVE TAKEN PROCEDURAL STEPS, INTEND TO MOVE TO DISMISS SEC’S COMPLAINT OR FILE RESPONSIVE PLEADINGS
Source text: ID:nBSEbY7HMY
Further company coverage: ADNA.NS
(([email protected];))
Refiles to remove extraneous characters from start of headline
India has cited procedural issues for previously refusing SEC requests
Adani case is the highest-profile US case against an Indian conglomerate
Adani group has said the allegations are unfounded
By Arpan Chaturvedi
NEW DELHI, Jan 22 (Reuters) - The U.S. Securities and Exchange Commission has asked a U.S. court for help in serving summonses upon Indian billionaire Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme, filings show.
India, the SEC said, has previously refused its two procedural requests to serve the summonses for its civil case.
In a high-profile legal case in the U.S. involving an Indian conglomerate, the SEC has been trying to send summonses to Adani group founder Gautam Adani and his nephew Sagar since last year.
Adani group has called the allegations "baseless" and said that it would seek "all possible legal recourse" to defend itself. It did not immediately respond to Reuters' request for comment on the latest SEC filing, dated January 21.
Serving a summons is often routine, but the SEC said India's law ministry had refused two requests to have its summonses served on the Adanis.
The regulator asked a judge to instead let it serve the summonses on the Adanis' U.S.-based lawyers, and email copies to the Adanis.
U.S. civil procedural rules allow this method of service, the SEC said. "Given defendants’ actual knowledge of this litigation -- demonstrated by public statements, regulatory filings, and retention of U.S. counsel -- email service to their business addresses will provide effective notice," the SEC added.
India's law ministry also did not immediately respond to a Reuters' request seeking comment on the latest filing. It has previously described the issue as a legal issue between private firms and the United States.
ALLEGED SCHEME TO BRIBE INDIAN OFFICIALS
U.S. authorities in November 2024 accused Adani group executives of being part of a scheme to pay bribes to Indian officials for buying electricity produced by Adani Green Energy ADNA.NS, a unit of the Adani group. The SEC filed a civil case against Gautam Adani and Sagar Adani, which is separate from the U.S. Department of Justice's criminal indictment against the Adanis and several other defendants. The Justice Department case remains open, court records show.
The SEC complaint says the executives also misled U.S. investors by providing information about the company's anti-graft practices.
The two rejections by India to serve the summons, the SEC filing said, were based on procedural reasons, such as signature and seal requirements, none of which it said is needed in summons sent to individuals in another country under the international treaties of the Hague Convention.
In its second rejection in December last year, the court filing added that India's law ministry appeared to raise doubts about the SEC's authority to request service of summons.
"These responses demonstrate that further attempts through the Hague Convention are unlikely to succeed," the SEC filing said.
Ties between India and the U.S. have deteriorated over U.S. President Donald Trump's imposition of tariffs.
(Reporting by Arpan Chaturvedi; Editing by Barbara Lewis and Daniel Wallis)
(([email protected];))
Refiles to remove extraneous characters from start of headline
India has cited procedural issues for previously refusing SEC requests
Adani case is the highest-profile US case against an Indian conglomerate
Adani group has said the allegations are unfounded
By Arpan Chaturvedi
NEW DELHI, Jan 22 (Reuters) - The U.S. Securities and Exchange Commission has asked a U.S. court for help in serving summonses upon Indian billionaire Gautam Adani and group executive Sagar Adani over alleged fraud and a $265 million bribery scheme, filings show.
India, the SEC said, has previously refused its two procedural requests to serve the summonses for its civil case.
In a high-profile legal case in the U.S. involving an Indian conglomerate, the SEC has been trying to send summonses to Adani group founder Gautam Adani and his nephew Sagar since last year.
Adani group has called the allegations "baseless" and said that it would seek "all possible legal recourse" to defend itself. It did not immediately respond to Reuters' request for comment on the latest SEC filing, dated January 21.
Serving a summons is often routine, but the SEC said India's law ministry had refused two requests to have its summonses served on the Adanis.
The regulator asked a judge to instead let it serve the summonses on the Adanis' U.S.-based lawyers, and email copies to the Adanis.
U.S. civil procedural rules allow this method of service, the SEC said. "Given defendants’ actual knowledge of this litigation -- demonstrated by public statements, regulatory filings, and retention of U.S. counsel -- email service to their business addresses will provide effective notice," the SEC added.
India's law ministry also did not immediately respond to a Reuters' request seeking comment on the latest filing. It has previously described the issue as a legal issue between private firms and the United States.
ALLEGED SCHEME TO BRIBE INDIAN OFFICIALS
U.S. authorities in November 2024 accused Adani group executives of being part of a scheme to pay bribes to Indian officials for buying electricity produced by Adani Green Energy ADNA.NS, a unit of the Adani group. The SEC filed a civil case against Gautam Adani and Sagar Adani, which is separate from the U.S. Department of Justice's criminal indictment against the Adanis and several other defendants. The Justice Department case remains open, court records show.
The SEC complaint says the executives also misled U.S. investors by providing information about the company's anti-graft practices.
The two rejections by India to serve the summons, the SEC filing said, were based on procedural reasons, such as signature and seal requirements, none of which it said is needed in summons sent to individuals in another country under the international treaties of the Hague Convention.
In its second rejection in December last year, the court filing added that India's law ministry appeared to raise doubts about the SEC's authority to request service of summons.
"These responses demonstrate that further attempts through the Hague Convention are unlikely to succeed," the SEC filing said.
Ties between India and the U.S. have deteriorated over U.S. President Donald Trump's imposition of tariffs.
(Reporting by Arpan Chaturvedi; Editing by Barbara Lewis and Daniel Wallis)
(([email protected];))
Jan 16 (Reuters) - KPI Green Energy Ltd KPIG.NS:
RECEIVES ORDERS FROM ADANI GREEN ENERGY
Source text: ID:nNSEbnpXsB
Further company coverage: KPIG.NSADNA.NS
(([email protected];))
Jan 16 (Reuters) - KPI Green Energy Ltd KPIG.NS:
RECEIVES ORDERS FROM ADANI GREEN ENERGY
Source text: ID:nNSEbnpXsB
Further company coverage: KPIG.NSADNA.NS
(([email protected];))
Jan 15 (Reuters) - Adani Green Energy Ltd ADNA.NS:
MOODY'S: AFFIRMED BAA3 SENIOR SECURED RATINGS OF ADANI TRANSMISSION STEP-ONE, ADANI ELECTRICITY MUMBAI
MOODY'S: CHANGED OUTLOOK ON ALL RATINGS TO STABLE FROM NEGATIVE FOR ATSOL, AEML
Source text: ID:nMDY3dGyxq
Further company coverage: ADNA.NS
(([email protected];))
Jan 15 (Reuters) - Adani Green Energy Ltd ADNA.NS:
MOODY'S: AFFIRMED BAA3 SENIOR SECURED RATINGS OF ADANI TRANSMISSION STEP-ONE, ADANI ELECTRICITY MUMBAI
MOODY'S: CHANGED OUTLOOK ON ALL RATINGS TO STABLE FROM NEGATIVE FOR ATSOL, AEML
Source text: ID:nMDY3dGyxq
Further company coverage: ADNA.NS
(([email protected];))
Jan 12 (Reuters) - Adani Green Energy Ltd ADNA.NS:
2,995 MW GREENFIELD CAPACITY ADDED IN 9M FY26
Source text: ID:nBSE4Z1q2P
Further company coverage: ADNA.NS
(([email protected];))
Jan 12 (Reuters) - Adani Green Energy Ltd ADNA.NS:
2,995 MW GREENFIELD CAPACITY ADDED IN 9M FY26
Source text: ID:nBSE4Z1q2P
Further company coverage: ADNA.NS
(([email protected];))
Jan 7 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - UNIT INCORPORATED WHOLLY-OWNED SUBSIDIARY ADANI ECOGEN SEVEN
Source text: ID:nBSEqkwpK
Further company coverage: ADNA.NS
(([email protected];;))
Jan 7 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY - UNIT INCORPORATED WHOLLY-OWNED SUBSIDIARY ADANI ECOGEN SEVEN
Source text: ID:nBSEqkwpK
Further company coverage: ADNA.NS
(([email protected];;))
Dec 31 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - OPERATIONALIZED AGGREGATE 307.4 MW POWER PROJECTS AT KHAVDA
ADANI GREEN ENERGY - TO OPERATIONALIZE KHAVDA PLANTS, COMMENCE POWER GENERATION FROM JANUARY 01
Source text: ID:nBSE6z8p6L
Further company coverage: ADNA.NS
(([email protected];))
Dec 31 (Reuters) - Adani Green Energy Ltd ADNA.NS:
ADANI GREEN ENERGY LTD - OPERATIONALIZED AGGREGATE 307.4 MW POWER PROJECTS AT KHAVDA
ADANI GREEN ENERGY - TO OPERATIONALIZE KHAVDA PLANTS, COMMENCE POWER GENERATION FROM JANUARY 01
Source text: ID:nBSE6z8p6L
Further company coverage: ADNA.NS
(([email protected];))
Corrects to say target is to take total debt on book to 1 trillion rupees by 2030, and not raise 1 trillion rupees by 2030
Nov 28 (Reuters) - India's Adani Group targets to take total debt on book to 1 trillion rupees ($11.18 billion) by 2030, Chief Financial Officer Jugeshinder Singh told reporters on Friday.
($1 = 89.4520 Indian rupees)
(Reporting by Dhwani Pandya and Khushi Malhotra in Mumbai, writing by Hritam Mukherjee in Bengaluru)
(([email protected]; X: @MukherjeeHritam;))
Corrects to say target is to take total debt on book to 1 trillion rupees by 2030, and not raise 1 trillion rupees by 2030
Nov 28 (Reuters) - India's Adani Group targets to take total debt on book to 1 trillion rupees ($11.18 billion) by 2030, Chief Financial Officer Jugeshinder Singh told reporters on Friday.
($1 = 89.4520 Indian rupees)
(Reporting by Dhwani Pandya and Khushi Malhotra in Mumbai, writing by Hritam Mukherjee in Bengaluru)
(([email protected]; X: @MukherjeeHritam;))
Corrects September 29 story to state TotalEnergies would focus its renewables holdings on three primary regions, not that it would divest all holdings outside those areas
PARIS, Sept 29 (Reuters) - TotalEnergies TTEF.PA plans to focus its renewable power holdings on the United States, Brazil and Europe, the company's gas, renewables and power president Stephane Michel said on Monday at Investor Day in New York.
Currently, roughly 25% of the French oil major's operational renewables portfolio comes from its joint ventures with Indian conglomerate Adani, as well as a direct stake in Adani Green Energy Limited.
Total CEO Patrick Pouyanne said that Adani Green Energy Limited was a good company that was growing, but that Total didn't plan to grow its green portfolio with Adani in future.
"I would be very happy to sell my stake in Adani Green," Pouyanne said, adding he had bought the stake for around $2 billion and it was now worth around $8 billion.
(Reporting by America Hernandez. Writing by Makini Brice. Editing by Mark Potter)
(([email protected];))
Corrects September 29 story to state TotalEnergies would focus its renewables holdings on three primary regions, not that it would divest all holdings outside those areas
PARIS, Sept 29 (Reuters) - TotalEnergies TTEF.PA plans to focus its renewable power holdings on the United States, Brazil and Europe, the company's gas, renewables and power president Stephane Michel said on Monday at Investor Day in New York.
Currently, roughly 25% of the French oil major's operational renewables portfolio comes from its joint ventures with Indian conglomerate Adani, as well as a direct stake in Adani Green Energy Limited.
Total CEO Patrick Pouyanne said that Adani Green Energy Limited was a good company that was growing, but that Total didn't plan to grow its green portfolio with Adani in future.
"I would be very happy to sell my stake in Adani Green," Pouyanne said, adding he had bought the stake for around $2 billion and it was now worth around $8 billion.
(Reporting by America Hernandez. Writing by Makini Brice. Editing by Mark Potter)
(([email protected];))
Oct 10 (Reuters) - The U.S. Securities and Exchange Commission said that Indian authorities have not yet effected its requests to serve summons or complaints to Adani Group executives over alleged securities fraud and a $265-million bribery scheme, a court filing showed on Friday.
(Reporting by Kanjyik Ghosh in Barcelona; Editing by Louise Heavens)
(([email protected];))
Oct 10 (Reuters) - The U.S. Securities and Exchange Commission said that Indian authorities have not yet effected its requests to serve summons or complaints to Adani Group executives over alleged securities fraud and a $265-million bribery scheme, a court filing showed on Friday.
(Reporting by Kanjyik Ghosh in Barcelona; Editing by Louise Heavens)
(([email protected];))
Adds company comment in paragraphs 6-7, detail in paragraphs 9-10
Without waiver, cost could rise 40% to 3.49 rupees per unit
Adani has denied corruption allegations
Transmission fee is mandated by federal law
By Sarita Chaganti Singh and Sethuraman N R
NEW DELHI, Oct 1 (Reuters) - A deal by Adani Green Energy ADNA.NS to provide solar power that is already subject to a U.S. bribery investigation, faces a further challenge as its main buyer, the southern state of Andhra Pradesh, has asked for guarantees that transmission charges will be waived, three sources with knowledge of the matter said.
The transmission fee, which could increase the cost of the solar power by around 40%, is mandated by federal law, meaning waiving it would be problematic.
Since April, Adani, which is part of a conglomerate run by one of India's richest men, has sent many letters urging Andhra Pradesh to begin offtaking power under a 2021 deal, the three sources said.
The deal for 7,000 megawatts of solar power was signed between Andhra Pradesh, Adani Green and the Solar Energy Corporation of India, a government intermediary that is meant to ensure parties abide by their contractual obligations.
ADANI GREEN ENERGY SAYS IT ROUTINELY ENGAGES IN COMMUNICATION
In its latest letter, Adani said it was ready so far to supply 4,312 megawatts of solar power to the state, the sources added. They asked not to be named because they were not authorised to speak on the matter publicly.
A spokesperson for Adani Green Energy said the company's entities "routinely engage in communication as part of regular contractual provisions".
The company remains committed to commencing power supply as soon as the necessary infrastructure is made available, the spokesperson said in a statement to Reuters.
WAIVER DEMAND COULD BE A DEAL BREAKER?
Andhra Pradesh, which is ruled by a close ally of Prime Minister Narendra Modi, in its first response on September 2 told the Solar Energy Corporation of India that it would not begin offtaking until the intermediary guaranteed an unconditional waiver on inter-state transmission over the 25-year long contract, the three sources said.
They said Andhra Pradesh said in its letter the waiver was an incentive for awarding the contract in 2021 and was available to the project at the time.
The waiver was revoked two years later due to regulatory changes.
Without the waiver, the cost of solar power to the Indian state will rise to nearly 3.49 rupees per unit from 2.49 rupees, the sources said.
One of them said the deal was in question because the government's solar corporation was not empowered to guarantee or grant a transmission waiver.
The solar corporation and the state chief minister's office did not reply to emailed requests for comments on the letters whose details have not previously been reported.
US BRIBERY ALLEGATIONS
U.S. authorities in November last year accused Indian billionaire Gautam Adani, together with his nephew and other executives, of involvement in a $265 million bribery scheme to secure Indian power supply contracts in Andhra Pradesh. The Adani Group denies the allegations.
Adani also denied any wrongdoing in June, telling shareholders no individual from the group has been charged under the U.S. Foreign Corrupt Practices Act.
The allegations caused political outcry in the country as the opposition accused the Modi government of shielding Adani and his conglomerate, which spans ports, airports, coal mines and media.
India's opposition parties have called for an investigation into the Adani Group following the U.S. bribery allegations, but Indian regulators have yet to intervene.
In December, Reuters reported that the solar deal was approved by Andhra Pradesh against officials' advice.
($1 = 88.8000 Indian rupees)
(Reporting by Sarita Chaganti Singh; Sethuraman N R; editing by Barbara Lewis)
(([email protected];))
Adds company comment in paragraphs 6-7, detail in paragraphs 9-10
Without waiver, cost could rise 40% to 3.49 rupees per unit
Adani has denied corruption allegations
Transmission fee is mandated by federal law
By Sarita Chaganti Singh and Sethuraman N R
NEW DELHI, Oct 1 (Reuters) - A deal by Adani Green Energy ADNA.NS to provide solar power that is already subject to a U.S. bribery investigation, faces a further challenge as its main buyer, the southern state of Andhra Pradesh, has asked for guarantees that transmission charges will be waived, three sources with knowledge of the matter said.
The transmission fee, which could increase the cost of the solar power by around 40%, is mandated by federal law, meaning waiving it would be problematic.
Since April, Adani, which is part of a conglomerate run by one of India's richest men, has sent many letters urging Andhra Pradesh to begin offtaking power under a 2021 deal, the three sources said.
The deal for 7,000 megawatts of solar power was signed between Andhra Pradesh, Adani Green and the Solar Energy Corporation of India, a government intermediary that is meant to ensure parties abide by their contractual obligations.
ADANI GREEN ENERGY SAYS IT ROUTINELY ENGAGES IN COMMUNICATION
In its latest letter, Adani said it was ready so far to supply 4,312 megawatts of solar power to the state, the sources added. They asked not to be named because they were not authorised to speak on the matter publicly.
A spokesperson for Adani Green Energy said the company's entities "routinely engage in communication as part of regular contractual provisions".
The company remains committed to commencing power supply as soon as the necessary infrastructure is made available, the spokesperson said in a statement to Reuters.
WAIVER DEMAND COULD BE A DEAL BREAKER?
Andhra Pradesh, which is ruled by a close ally of Prime Minister Narendra Modi, in its first response on September 2 told the Solar Energy Corporation of India that it would not begin offtaking until the intermediary guaranteed an unconditional waiver on inter-state transmission over the 25-year long contract, the three sources said.
They said Andhra Pradesh said in its letter the waiver was an incentive for awarding the contract in 2021 and was available to the project at the time.
The waiver was revoked two years later due to regulatory changes.
Without the waiver, the cost of solar power to the Indian state will rise to nearly 3.49 rupees per unit from 2.49 rupees, the sources said.
One of them said the deal was in question because the government's solar corporation was not empowered to guarantee or grant a transmission waiver.
The solar corporation and the state chief minister's office did not reply to emailed requests for comments on the letters whose details have not previously been reported.
US BRIBERY ALLEGATIONS
U.S. authorities in November last year accused Indian billionaire Gautam Adani, together with his nephew and other executives, of involvement in a $265 million bribery scheme to secure Indian power supply contracts in Andhra Pradesh. The Adani Group denies the allegations.
Adani also denied any wrongdoing in June, telling shareholders no individual from the group has been charged under the U.S. Foreign Corrupt Practices Act.
The allegations caused political outcry in the country as the opposition accused the Modi government of shielding Adani and his conglomerate, which spans ports, airports, coal mines and media.
India's opposition parties have called for an investigation into the Adani Group following the U.S. bribery allegations, but Indian regulators have yet to intervene.
In December, Reuters reported that the solar deal was approved by Andhra Pradesh against officials' advice.
($1 = 88.8000 Indian rupees)
(Reporting by Sarita Chaganti Singh; Sethuraman N R; editing by Barbara Lewis)
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to fix extra spacing in fifth paragraph.
By Shritama Bose
MUMBAI, Sept 19 (Reuters Breakingviews) - Gautam Adani is catching a moment of relief. India's securities regulator cleared the tycoon and units of his $152 billion infrastructure conglomerate of stock manipulation charges raised by a short seller in 2023. However, its fortunes won't improve much so long as U.S. charges hang over the group.
The Securities and Exchange Board of India on Thursday said the transactions involving Adani Enterprises ADEL.NS, Adani Ports APSE.NS and Adani Power ADAN.NS between 2018 and 2023 flagged by Nathan Anderson's now-disbanded firm Hindenburg Research did not violate the rules at the time on related party transactions.
The order closes the loop on a more than two-year-old saga marked by a $150 billion reduction in Adani group companies' market value and muddled by allegations of conflict of interest against former SEBI Chair Madhabi Puri Buch, who left her role in February.
The clean bill of health from the watchdog now led by Tuhin Kanta Pandey hardly changes the group's local standing. Indian mutual funds managing some $850 billion in assets were wary of what they see as the group's opacity and its rapid growth before Hindenburg struck, and remain so: Adani Enterprises stock is about 30% lower than at the start of 2023.
A more potent overhang is the U.S. Justice Department's indictment of the tycoon in a $265 million Indian bribery scheme. The Adani group denies any wrongdoing but the charges have complicated the conglomerate's fundraising prospects. Though BlackRock BLK.N subscribed to bonds an Adani unit issued in April to finance an acquisition, that borrowing came at an increased cost than its past deals.
Non-U.S. banks including Barclays BARC.L and DBS DBSM.SI lent $250 million to Adani's airport and ports units last month, Bloomberg reported citing unnamed people familiar with the transactions. But the U.S. issue stalled Adani's efforts to cut its dependence on Indian banks, which hold 47% of its 2.9 trillion rupees ($32.8 billion) debt. The group has returned to equity markets but only for carefully controlled issuances to institutional investors, not the public.
If anything, its stateside problems are widening. A subsidiary of Adani Enterprises has been named among 43 Indian exporters in a U.S. complaint over dumping of solar exports, a person familiar with the situation told Reuters Breakingviews. Similar investigations into Southeast Asian companies have attracted prohibitively high tariffs.
The resumption of trade talks this week between India and the U.S. may smooth the path for Adani to eventually draw a line under the Justice Department's probe, perhaps through a settlement. Until then, its other victories are superficial.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
The Securities and Exchange Board of India on September 18 dismissed allegations of stock manipulation against billionaire Gautam Adani and his group of companies made by U.S. short-seller Hindenburg Research.
The capital markets regulator began investigating the group's flagship Adani Enterprises and its ports and energy units in 2023 after Hindenburg accused them of using tax havens and failing to disclose transactions between related parties. SEBI officials said in the order that the transactions under review, which were carried out between 2018 and 2023, did not qualify as related party transactions under the rules at the time.
Most Adani group shares are trading lower than before Hindenburg's attack https://www.reuters.com/graphics/BRV-BRV/gdvzbgwwlvw/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to fix extra spacing in fifth paragraph.
By Shritama Bose
MUMBAI, Sept 19 (Reuters Breakingviews) - Gautam Adani is catching a moment of relief. India's securities regulator cleared the tycoon and units of his $152 billion infrastructure conglomerate of stock manipulation charges raised by a short seller in 2023. However, its fortunes won't improve much so long as U.S. charges hang over the group.
The Securities and Exchange Board of India on Thursday said the transactions involving Adani Enterprises ADEL.NS, Adani Ports APSE.NS and Adani Power ADAN.NS between 2018 and 2023 flagged by Nathan Anderson's now-disbanded firm Hindenburg Research did not violate the rules at the time on related party transactions.
The order closes the loop on a more than two-year-old saga marked by a $150 billion reduction in Adani group companies' market value and muddled by allegations of conflict of interest against former SEBI Chair Madhabi Puri Buch, who left her role in February.
The clean bill of health from the watchdog now led by Tuhin Kanta Pandey hardly changes the group's local standing. Indian mutual funds managing some $850 billion in assets were wary of what they see as the group's opacity and its rapid growth before Hindenburg struck, and remain so: Adani Enterprises stock is about 30% lower than at the start of 2023.
A more potent overhang is the U.S. Justice Department's indictment of the tycoon in a $265 million Indian bribery scheme. The Adani group denies any wrongdoing but the charges have complicated the conglomerate's fundraising prospects. Though BlackRock BLK.N subscribed to bonds an Adani unit issued in April to finance an acquisition, that borrowing came at an increased cost than its past deals.
Non-U.S. banks including Barclays BARC.L and DBS DBSM.SI lent $250 million to Adani's airport and ports units last month, Bloomberg reported citing unnamed people familiar with the transactions. But the U.S. issue stalled Adani's efforts to cut its dependence on Indian banks, which hold 47% of its 2.9 trillion rupees ($32.8 billion) debt. The group has returned to equity markets but only for carefully controlled issuances to institutional investors, not the public.
If anything, its stateside problems are widening. A subsidiary of Adani Enterprises has been named among 43 Indian exporters in a U.S. complaint over dumping of solar exports, a person familiar with the situation told Reuters Breakingviews. Similar investigations into Southeast Asian companies have attracted prohibitively high tariffs.
The resumption of trade talks this week between India and the U.S. may smooth the path for Adani to eventually draw a line under the Justice Department's probe, perhaps through a settlement. Until then, its other victories are superficial.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
The Securities and Exchange Board of India on September 18 dismissed allegations of stock manipulation against billionaire Gautam Adani and his group of companies made by U.S. short-seller Hindenburg Research.
The capital markets regulator began investigating the group's flagship Adani Enterprises and its ports and energy units in 2023 after Hindenburg accused them of using tax havens and failing to disclose transactions between related parties. SEBI officials said in the order that the transactions under review, which were carried out between 2018 and 2023, did not qualify as related party transactions under the rules at the time.
Most Adani group shares are trading lower than before Hindenburg's attack https://www.reuters.com/graphics/BRV-BRV/gdvzbgwwlvw/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
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Popular questions
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What does Adani Green Energy do?
Adani Green Energy is one of the largest renewable companies in India. AGEL is part of the Adani Group’s promise to provide a better, cleaner and greener future for India. Driven by the Group’s philosophy of ‘Growth with Goodness’, the company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations.
Who are the competitors of Adani Green Energy?
Adani Green Energy major competitors are NTPC, Tata Power, JSW Energy, Adani Power, NHPC, Torrent Power, NLC India. Market Cap of Adani Green Energy is ₹2,64,273 Crs. While the median market cap of its peers are ₹1,00,732 Crs.
Is Adani Green Energy financially stable compared to its competitors?
Adani Green Energy seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Adani Green Energy pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Adani Green Energy latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Adani Green Energy allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Adani Green Energy balance sheet?
Adani Green Energy balance sheet is weak and might have solvency issues
Is the profitablity of Adani Green Energy improving?
Yes, profit is increasing. The profit of Adani Green Energy is ₹1,652 Crs for Mar 2026, ₹1,444 Crs for Mar 2025 and ₹1,100 Crs for Mar 2024
Is the debt of Adani Green Energy increasing or decreasing?
Yes, The net debt of Adani Green Energy is increasing. Latest net debt of Adani Green Energy is ₹95,621 Crs as of Mar-26. This is greater than Mar-25 when it was ₹72,829 Crs.
Is Adani Green Energy stock expensive?
Adani Green Energy is not expensive. Latest PE of Adani Green Energy is 155, while 3 year average PE is 282. Also latest EV/EBITDA of Adani Green Energy is 32.94 while 3yr average is 52.62.
Has the share price of Adani Green Energy grown faster than its competition?
Adani Green Energy has given better returns compared to its competitors. Adani Green Energy has grown at ~66.56% over the last 7yrs while peers have grown at a median rate of 24.88%
Is the promoter bullish about Adani Green Energy?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Adani Green Energy is 62.43% and last quarter promoter holding is 62.43%.
Are mutual funds buying/selling Adani Green Energy?
The mutual fund holding of Adani Green Energy is increasing. The current mutual fund holding in Adani Green Energy is 3.49% while previous quarter holding is 3.22%.