No direct agreement between Andhra Pradesh DISCOMs and Adani Group clarifies YSR Congress

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The Yuvajana Sramika Rythu (YSR) Congress Party clarified on Friday that there is no direct agreement between Andhra Pradesh (AP) distribution companies (DISCOMs) and the Adani Group. This statement came in response to allegations linking Adani Group chairman Gautam Adani and others to an alleged bribery scheme, as charged by US prosecutors.

The controversy intensified after Congress leader Jairam Ramesh criticised the Solar Energy Corporation of India (SECI), a Government of India entity under the Ministry of New and Renewable Energy, accusing it of being a key player in the alleged corruption scandal.

In a statement issued on Thursday, the YSR Congress Party stated, "It is necessary to mention that SECI is a Government of India enterprise. There is no direct agreement between AP DISCOMs and any other entities, including those belonging to the Adani Group. Therefore, the allegations made against the State Government, in light of the indictment, are incorrect."

Under the leadership of Chief Minister Y.S. Jagan Mohan Reddy, the Andhra Pradesh government entered into a 25-year agreement with SECI to procure 7,000 megawatts (MW) of power at a rate of ₹2.49 per kilowatt hour (kWh). The phased implementation includes 3,000 MW commencing in FY 2024-25, another 3,000 MW in FY 2025-26, and the remaining 1,000 MW in FY 2026-27.

According to the statement, this arrangement is advantageous for the state due to the waiver of inter-state transmission system (ISTS) charges. This exemption allows for more cost-effective power procurement, potentially saving Andhra Pradesh an estimated ₹3,700 crore annually. Over the 25-year period, the state is expected to realise substantial benefits.

Opposition parties, meanwhile, continued to demand a Joint Parliamentary Committee (JPC) probe into the bribery allegations. Congress leader Jairam Ramesh reiterated his stance, alleging that SECI played a central role in the controversy.

The Adani Group has strongly denied all allegations brought by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green. The BJP has also criticised Congress leader Rahul Gandhi for his remarks targeting Prime Minister Narendra Modi in connection with the issue, asserting that the law would take its own course.

As per ANI, the YSR Congress Party's clarification underscores its position that the state government acted transparently and that the allegations lack a factual basis.