APT Translations

Adani Group's dollar bond prices dropped to their lowest point in a year. This decline followed allegations of bribery and fraud from US authorities. The charges involved payments made to Indian government officials. These payments aimed to secure contracts and advance the development of a solar power project.

Modi's visit marks a significant moment as it is his first trip to Andhra Pradesh after the formation of the NDA govt in the state. It is also Modi's first visit to the state since assuming the office of Prime Minister for a third time.

Over the course of two weeks of the conference, the International Renewable Energy Agency (IRENA) launched key initiatives and engaged with governments, the private sector, and youth, advocating for ambitious outcomes that would align decisions related to the energy transition with a 1.5°C scenario.

A new petition filed with the Supreme Court requests an investigation into the charges of bribery and fraud against Gautam Adani in the US. The plea argues that the accusations are serious and require examination by Indian authorities, particularly in light of ongoing SEBI investigations into allegations of stock manipulation and short selling.

US Securities and Exchange Commission (SEC) wants Adanis to explain their stand on allegations of paying bribes to secure lucrative solar power contracts but that request will have to follow the established protocol of routing it through the Indian Embassy in the US and following other diplomatic formalities, two sources aware of the matter said.

" The opposition party headed by former CM Naveen Patnaik also claimed that the case of Odisha is different from that of other states as the BJD government privatised power distribution and the administration has no direct link with agreements made for availing renewable energy.

India on Sunday fiercely rejected the paltry USD 300 billion climate finance package for the Global South and said the COP29 presidency and the UN climate change office forced through the deal before allowing it to voice its objections.

Adani Group CFO Jugeshinder Robbie Singh clarified that the US bribery charges only concern a single contract representing 10% of Adani Green Energy's operations. While aware of an ongoing investigation, the group claims it learned of the specific charges two days prior. Singh emphasized that none of the 11 publicly listed Adani companies are implicated in any wrongdoing.

Union Minister of Power and Housing & Urban Affairs Manohar Lal on Saturday flagged off a fleet of green hydrogen buses of NTPC at Leh in the presence of senior officials of the Ministry of Power, Leh Administration, and NTPC on Saturday.

The all-India peak demand reached a record high of 250 GW in May 2024 but moderated during Q2 due to favorable monsoon conditions and slower industrial activity.