MNRE has not received any allegations of bribery by Indian RE developers for securing SECI contracts

MoS for New and Renewable Energy Shripad Yesso Naik
| Photo Credit:
ANI

The Ministry of New and Renewable Energy (MNRE) informed Parliament on Tuesday that it has not received any allegations of bribery by Indian renewable energy developers to secure contracts from the state-run Solar Energy Corporation of India (SECI).

Minister of State for New & Renewable Energy Shripad Naik said in response to a written query in the Rajya Sabha. The Minister was asked whether the Ministry has initiated any vigilance inquiry or forensic audit, following US Department of Justice (DoJ) and Securities & Exchange Commission (SEC) indictments alleging bribery by Indian renewable energy developers to secure SECI contracts.

The issue relates to charges levelled against Gautam Adani and his executives by the US Securities and Exchange Commission (SEC) and a New York district court for bribing Indian government officials in lieu of lucrative solar power contracts that can adversely impact foreign fund-raising plans. US prosecutors claimed that Adani Green Energy (AGEL), the RE arm of Adani Group, had bribed SECI officials for the contracts.

In this regard, the order by the New York district court stated that between 2020 and 2024, senior executives of AGEL and an issuer company that operated in the RE sector whose securities were traded in the US exchange and the issuer’s largest shareholder, the Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ), bribed Indian government officials to ensure execution of lucrative solar energy supply contracts with government entities.

Published on December 16, 2025