Adani's Renewable Energy Project Faces Impasse
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billionaire Gautam AdaniReuters
•Analysis-Adani's 'renewable energy marvel' trapped in U.S. bribery indictment
78% Informative
U.S. indictment of Adani Green , his nephew and managing director accused of paying bribes of $265 million to secure Indian power supply contracts.
Adani has committed investment of $100 billion in the renewables sector, seen as core to the ports-to-airports conglomerate that is worth more than $135 billion .
Since the news of the indictment, Adani 's stock has nosedived 36% , losing $9.6 billion in market value.
The Adani Group has denied the accusations as baseless and vowed to seek legal recourse.
Vneet S. Jaain is one of three Adani executives indicted for offering bribes to Indian state officials to secure deals.
Jaain has not responded to a request for comment from Reuters .
He was one of the three executives indicted, besides Gautam and Sagar Adani .
VR Score
89
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95
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53
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formal
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English
Language complexity
52
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