What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
NEW DELHI: Maharashtra’s state electricity distribution company, MSEDCL, has awarded a major contract to Adani Power to supply 6,600 MW of bundled renewable and thermal energy.
The Adani Group’s bid, priced at ₹4.08 per unit, is almost ₹1 lower than Maharashtra’s current electricity procurement costs. The deal involves supplying 5,000 MW of solar energy from Adani Green Energy’s Khavda Renewable Energy Park in Gujarat and 1,496 MW of thermal power from a new ultra-supercritical plant.
While the contract is seen as a financial win for the state, the political implications have sparked controversy. Senior Congress leader Jairam Ramesh criticized the deal, calling it a “Modani enterprise” — a jibe at the perceived close ties between Prime Minister Narendra Modi and billionaire Gautam Adani.
यह तय है कि आगामी महाराष्ट्र विधानसभा चुनाव में महायुति सरकार करारी हार के साथ सत्ता से बाहर होने जा रही है, फिर भी उन्होंने अपने आख़िरी के कुछ दिनों में ये करना चुना है। निस्संदेह यह मोदानी का एक और कारनामा है।
जल्द ही धोखाधड़ी से भरे इस रिग्गड डील के चौंकाने वाले विवरण सामने… pic.twitter.com/YO6bul3xzy
— Jairam Ramesh (@Jairam_Ramesh) September 15, 2024
Ramesh accused the ruling Mahayuti alliance of pushing through the deal ahead of what he predicted would be a “landslide defeat” in the upcoming Maharashtra assembly elections.
In a series of posts on social media platform X, Ramesh alleged that the deal was rigged, claiming that “shocking details” would soon emerge.
His comments have added to the already contentious political climate as Maharashtra heads into election season.
Adani Power confirmed the news, stating that the letter of intent had been awarded and that supplies would commence within 48 months. Despite recent scrutiny following a critical report by U.S.-based Hindenburg Research in 2023, the conglomerate continues to secure large projects across India.
The Adani Group has faced intense scrutiny since the release of a critical report by U.S.-based short-seller Hindenburg Research in January 2023.
The report accused the conglomerate of stock manipulation, accounting fraud, and governance issues, leading to a sharp decline in Adani’s share prices and wiping out billions in market value.
While the share prices have largely recovered, the Securities and Exchange Board of India (SEBI) has yet to publish the final report on its findings.
The Maharashtra government’s decision to award this contract to Adani comes at a sensitive time, with the opposition likely to use the deal as a key issue in the run-up to the state elections.
