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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The state-run broker for green power finds itself mired in the US indictment of Gautam Adani and other executives. Now, the industry's trust in the country's biggest issuer of renewable energy contracts is inevitably shaken.
Amid all the noise surrounding the US indictment of Indian billionaire Gautam Adani on bribery charges, one thing stands out. The supposed involvement of state-run Solar Energy Corporation of India (SECI), the country’s top renewable energy agency. This has particularly spooked India’s renewable energy sector, including investors. A bigger worry is that it could spell trouble for the country’s green energy ecosystem.
“The reputational damage could be long-lasting,” says an executive at a large renewable power developer, requesting anonymity. “[SECI’s] contracts are seen as the benchmark in India. Credit rating agencies, underwriters, lenders and investors all see SECI-backed power projects …
