Adanis Knew Of U.S. Probe Before Selling Solar Assets to TotalEnergies

Gautam Adani and his nephew Sagar Adani were aware their renewable energy company was under investigation by U.S. authorities for suspected bribery when they sold part of India's largest solar park to TotalEnergies, prosecutors allege in legal documents reviewed by Reuters, reported by America Hernandez.

In September 2024, TotalEnergies paid $444 million into a joint venture with Adani Green Energy for 1.15 gigawatts of solar installations at Khavda—the project at the center of the bribery allegations. I Photo: PR Newswire

TotalEnergies has not commented on whether it was informed of the U.S. probe before purchasing a 50% stake in the Khavda solar park project.

In September 2024, TotalEnergies paid $444 million into a joint venture with Adani Green Energy for 1.15 gigawatts of solar installations at Khavda—the project at the center of the bribery allegations.

On Thursday, U.S. prosecutors charged eight individuals, including Gautam Adani, Sagar Adani, and a former CEO of Adani Green Energy Limited, with offering and making improper payments to Indian officials between July 2021 and 2024 to ensure the project’s success.

The Adani Group has dismissed the allegations as baseless.

However, the U.S. indictment reveals that FBI special agents served Adani Green Energy Executive Director Sagar Adani with a search warrant and grand jury subpoena in March 2023—over a year before the sale to TotalEnergies.