Adani allegations shine spotlight on India's clean energy conundrum
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.
The conglomerate is not alone in facing increasingly long delays in signing up buyers for the renewable electricity capacity which is now being developed in coal-dependent India — the world's third-largest emitter of greenhouse gases.
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