Adani’s solar contract boasts a lower tariff, making it potentially attractive to new buyers, according to analysts.

US authorities have filed charges against Gautam Adani, the founder and chairman of the Adani Group, and unnamed others for allegedly being part of a scheme to offer a $265 million bribe to Indian officials to secure a contract to supply 8 gigawatts of electricity generated from solar energy through Adani Green Energy Ltd (AGEL). The details of the allegations are unknown, but it is believed to be related to a foreign corrupt practices act (FCPA) in the United States. As a result, the potential defendants face severe legal and reputational consequences. Adani is a prominent Indian businessman and his company, Adani Group, has various interests in infrastructure, energy, and real estate. The news has sent shockwaves through the global business community, raising questions about the allegations and the group’s future.