Andhra Pradesh is reportedly reviewing government files to determine if it can cancel a power supply contract linked to the Adani Group, whose founder, billionaire Gautam Adani, has been indicted in the United States on bribery charges.
State Finance Minister Payyavula Keshav confirmed the review on Monday, a Reuters report claimed, stating the government is “digging into all the internal files” related to the deal.
The US indictment alleges that Adani and seven others paid $265 million in bribes to Indian officials between 2021 and 2022 to secure solar power-supply contracts across multiple states, including Andhra Pradesh.
Of this, $228 million was allegedly paid to influence Andhra Pradesh’s state electricity distribution companies, leading to an agreement to purchase approximately seven gigawatts of solar power—the largest commitment of any Indian state.
“We will also examine what can be done next, like is there a possibility to cancel the contract,” Keshav was quoted as saying in the report, adding that the state government is looking into the issue closely.
Adani has denied the allegations, calling them baseless. The YSR Congress Party, which led the state’s administration during the alleged misconduct, also denied any wrongdoing.
The Adani Group, which has come under increased scrutiny since the US indictment, did not immediately respond to requests for comment. Business Today could not independently verify the details of the report. The story will be updated once comments from the Adani Group are received.
The fallout from the bribery charges is already significant. French oil giant TotalEnergies, which owns a 20% stake in Adani Green Energy, has paused further investments in the Adani Group. Shares of Adani’s companies have also seen sharp declines since the indictment.
The allegations have brought renewed attention to one of India’s largest business conglomerates and its dealings with government entities.
