NEW DELHI ¨C Bribery allegations against Adani Group founder Gautam Adani have highlighted the growing problem India¡¯s renewable energy developers face in finding buyers for the power they generate.
While India¡¯s central government wants to shift away from polluting coal-fired generation towards solar and wind, officials say state government-owned power distribution companies responsible for keeping the lights on have dragged their heels over striking renewable purchase deals.
U.S. authorities allege that Indian billionaire Adani conspired to devise a $265 million scheme to bribe Indian state government officials to secure solar power supply deals, after one of his companies was unable to secure buyers for a $6 billion project for several years. The Adani Group has denied the charges.
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