Adani's solar contract has lower tariff, can find new buyer: Analysts

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Adani's solar contract has lower tariff, can find new buyer: Analysts - Business Standard

Quick Summary:

US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL).

Adani Group's solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts.

"If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe," Nomura said in a report.