Adani Power

Adani Green Energy Twenty Five, a step-down subsidiary of Adani Green, has commissioned a 250 MW solar power project at Rajasthan

The Adani plant, which accounts for about a 10th of Bangladesh's power consumption, has already racked up as much as $790 million of dues as of the end of September

An Adani Power spokesperson said the firm was continuing supply to Bangladesh, although mounting dues were a significant concern, making plant operations unsustainable

Reuters reported on Sunday that Bangladesh wants to sharply lower prices under the deal with Adani Group, unless it is cancelled by a court that has called for an investigation into the 25-year deal

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TDP-led Andhra Pradesh government has a difficult choice to make vis a vis the power deal at the heart of a raging controversy over US bribery allegations against Gautam Adani

The deal was signed in 2017 by Adani and a government entity under Prime Minister Sheikh Hasina, who was ousted this year amid a popular uprising and accusations of widespread corruption

Indian conglomerate's rising international footprint has come with controversies

At 11:09 am; Adani Total Gas was trading 14% higher, while Adani Green and Adani Energy Solutions were locked in the 10% upper circuit, as compared to nearly 1% decline in the BSE Sensex.

Adani Green Energy clarified today that allegations against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain under the US FCPA by the US Department of Justice are "incorrect."

Bangladesh said that external legal expertise is essential for a detailed review, which may lead to the renegotiation or even termination of certain contracts, including Adani Power

Last week, shares of Adani Group tanked up to 28% after Gautam Adani, along with other executives, were charged by US prosecutors with bribery, fraud charges.

Gautam Adani, along with other executives, has been charged by US prosecutors for allegedly bribing ($250 million) Indian officials.

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Late on Thursday, supply was further reduced to about 520 MW, according to Power Grid Bangladesh data and an official with the Bangladesh Power Development Board (BPDB)

The Gautam Adani-owned company reduced the power supply to Bangladesh to 700-800 MW this month, nearly half than earlier, after failing to secure its dues of $846 million

India's Adani Power Jharkhand Limited (APJL), a wholly-owned subsidiary of Adani Power, has stopped half of its power supply to Bangladesh because of outstanding bills of USD 846 million, according to a local media report on Friday. Data from Power Grid Bangladesh PLC showed the Adani plant reduced supply on Thursday night, The Daily Star newspaper said. Bangladesh reported a shortfall of more than 1,600 megawatts (MW) on the intervening night of Thursday and Friday as the 1,496 MW plant is now producing 700 MW from a single unit, the newspaper reported. Earlier, the Adani company wrote to the power secretary asking the Bangladesh Power Development Board (PDB) to clear its outstanding dues by October 30. The letter, dated October 27, said that if the bills are not paid, the company shall be constrained to take remedial action under the Power Purchase Agreement (PPA) by suspending the power supply on October 31. The company said that the PDB has neither provided a letter of credit

Two Adani Group firms -- Adani Power and Adani Renewable Energy Fifty Five Limited -- will supply about 6,500 MW of power to Maharashtra State Electricity Distribution Company as part of agreements. In a regulatory filing, Adani Power Ltd said it has signed an agreement with Maharashtra State Electricity Distribution Company to supply nearly 1,500 MW of power. "Adani Power Limited has entered into a Power Supply Agreement (PSA) for supply of 1,496 MW (net) for a period of 25 years with the Maharashtra State Electricity Distribution Company Limited (MSEDCL)," it said. In a separate filing, Adani Green Energy Ltd (AGEL) said its wholly-owned step-down subsidiary Adani Renewable Energy Fifty Five Limited has entered into power purchase agreements with MSEDCL for supply of 5,000 MW of solar power.

Adani Power on Monday reported a 50 per cent decline in its consolidated net profit to Rs 3,297.52 crore in the September quarter compared to a year ago, mainly due to lower income as well as higher taxes. The company had posted a consolidated net profit of Rs 6,594.17 crore in the quarter ended September 2023, a BSE filing stated. The company explained that there were lower one-time revenue recognition of prior period items of Rs 1,020 crore in the first half of FY25 (April-September 2024) as compared to Rs 9,278 crore in H1 FY24, following the resolution of all major regulatory matters and realisation of outstanding dues from discoms (power distribution companies) in the previous year. It also stated that the one-time prior period revenue recognition in Q2 FY25 (July-September 2024) was Rs 598 crore, as compared to Rs 2,781 crore in Q2 FY24. The company had higher tax expenses, including deferred tax charge totalling to Rs 1,829 crore in H1 FY25, whereas H1 FY24 had recognition o

Q2FY25 company results: Indian Oil, Ambuja Cements, Aditya Birla Sun Life AMC, Sun Pharma and more will report their second-quarter earnings on October 28