SECI Denies Wrongdoing in Adani Case: CMD

New Delhi, Nov 21 (PTI) SECI, the nodal agency for implementation of renewable projects in India, has not been mentioned for any wrongdoing in the Adani case, its CMD R P Gupta said on Thursday.

Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.

"There is nothing against SECI that SECI has done anything wrong. That is no where. There is no mention of any wrongdoing or irregularity on part of SECI," he said while responding to PTI queries on developments related to the Adani case.

According to US prosecutors' document, Solar Energy Corporation of India Ltd (SECI), which originally awarded the solar manufacturing-linked power tender, entered into the sale agreements with Andhra Pradesh, Odisha, Chhattisgarh, and Tamil Nadu between July 2021 and December 2021.

The indictment also names New Delhi-based Azure Power, which had won a similar tender for supply of 4 GW.

But when Azure could not cough up its one-third share of the bribe money paid to the states for buying expensive power, Adani made the firm give up part of its contract, which was then taken over by Adani through SECI.

On his plans for future course of action, Gupta said, "There is no allegation against us. It is only against state governments... so those who have allegations against them, it is for them to take any action."

Gupta is a retired IAS Officer of the 1987 Batch of the Gujarat Cadre. He joined as SECI Chairman & Managing Director (CMD) on June 15, 2023.

Before joining SECI, he worked in the Ministry of Environment, Forest & Climate Change as secretary.