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.
Azman UsmaniSubscribe to read this story
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Alt Carbon, Varaha and a handful of local firms in the carbon dioxide removal space face multiple obstacles, chief among them being poor demand owing to the prohibitive cost of their solutions.
The US indictment alleging bribery for solar contracts by the company’s promoters and management has activated many potential issues in loan agreements signed by the renewables major.
Charges of fraud levelled against chairman Gautam Adani and two key board members could spell trouble for India’s largest renewable energy developer, especially when its entire growth strategy is contingent on raising debt.