In or about and between December 2019 and July 2020, Adani Green’s subsidiary won and were issued letters of award (LOAs) for a manufacturing-linked solar tender offered by SECI (Solar Energy Corporation of India Limited)

As part of that award, the Adani agreed to supply four gigawatts of solar power to SEC], and a subsidiary agreed to supply eight gigawatts of solar power to SECI. SECI, in turn, was responsible for finding state electricity distribution companies that would purchase the 12 gigawatts of power.

The terms of the LOAs and amended LOAs obligated SECI to purchase solar power at a fixed rate. At the time of its award, the size and scope of the Manufacturing Linked Project was among the largest global solar energy projects. It was anticipated to generate considerable profits for its energy producers.

But the high energy prices contemplated in the LOAs made it difficult for SECI to find Indian State buyers of energy under the Manufacturing Linked Project. After the award of the Manufacturing Linked Project, SECI unsuccessfully sought out Indian state and union governments to purchase the 12 gigawatts of solar power pursuant to PSAs. Without PSAs to sell the energy to a state buyer, SECI would not enter into corresponding PPAs to purchase power from Adani group entities

SECI’s inability to find purchasers jeopardised the lucrative LOAs, and corresponding revenue, that Adani anticipated receiving from the Manufacturing Linked Project. It has been alleged now that Guatam Adani and others developed a scheme to make bribe payments to Indian government officials in exchange for the government officials causing state electricity distribution companies to enter into PSAs with SECT,

It has been alleged by US authorities that during the course of the Bribery Scheme, the co-conspirators undertook extensive efforts to corruptly persuade government officials to cause state electricity distribution companies to execute PSAs and frequently discussed those efforts amongst themselves, including through the use of an electronic messaging application.

It has been alleged that Adani gave ₹2,029 crore in bribes in exchange for Indian government officials causing the state electricity distribution companies to execute PSAs under the Manufacturing Linked Project

US bribery charges name Adani projects in Odisha, TN, J&K, Chhattisgarh, AP

Following the promise of bribes to Indian government officials, in or about and between July 2021 and February 2022, electricity distribution companies for the states and regions of Odisha, Jammu and Kashmir, Tamil Nadu, Chhattisgarh and Andhra Pradesh entered into PSAs with SECI under the Manufacturing Linked Project. Andhra Pradesh’s electricity distribution companies entered into a PSA with SECI on or about December 1, 2021, pursuant to which the state agreed to purchase approximately seven gigawatts of solar power—by far the largest amount of any Indian state or region.

With executed PSAs under the Manufacturing Linked Project, SECI could enter into corresponding PPAs to purchase solar power from Adani group entities, including its US unit.

Adani used his cellular phone to track specific details of the bribes offered and promised to government officials (Bribe Notes). The Bribe Notes identified: (i) the state or region for which government officials had been offered a bribe; (ii) the total amount of the offered bribe; and (iii) the approximate amount of solar power the state or region would agree to purchase in exchange for the bribe. In most instances, the Bribe Notes also identified the per megawatt rate for the total bribe amount offered, the abbreviated titles of the government officials who would receive the bribes, and/or the allocation of the total bribe amount among government officials within each state and region.

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