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High energy prices pushed Adani unit, Azure Power into bribery scheme, US alleges

By Samuel Rubenfeld ( November 26, 2024, 20:10 GMT | Comment) -- The trigger for a massive bribery scheme alleged by the US government may have been simple economics. High energy prices contemplated in the awarding of solar energy contracts, and Indian state governments balking at paying those high prices, led two renewable firms to agree to pay around $265 million in bribes to induce officials to enter into power sale agreements with the Indian central government, according to US court documents. The trigger for a massive bribery scheme alleged by the US government may have been simple economics....

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