Following the U.S. indictment of Gautam Adani for allegedly bribing Andhra Pradesh officials to secure solar power contracts, the YSR Congress Party (YSRCP) issued a carefully worded statement refuting the claims against the previous Jagan Mohan Reddy-led government.
The statement emphasized that the Jagan government had no direct involvement with the Adani Group in the procurement of 7,000 MW of solar power for a 25-year period at a tariff of â¹2.49 per unit.
"The agreement was signed by the Andhra Pradesh Discoms with the Solar Energy Corporation of India (SECI), a central government undertaking. There was no direct agreement with any other entities, including the Adani Group," the statement clarified.
The YSRCP further noted that the decision to procure solar power from SECI was made in the state’s best interest, estimating annual savings of â¹3,700 crore for Andhra Pradesh. Over the 25-year agreement, this would result in substantial financial benefits for the state.
The party, however, avoided commenting on allegations that Adani held multiple rounds of discussions with "Foreign Official #1," a high-ranking Andhra Pradesh official at the time, and allegedly offered $200 million (â¹1,750 crore) in bribes.
According to the YSRCP, SECI offered to supply 7,000 MW of power at the lowest tariff of â¹2.49 per unit, including a waiver of inter-state transmission system (ISTS) charges. SECI, in turn, procured power from projects selected under the Request for Selection (RfS) process.
The statement detailed the timeline of the agreement: the Andhra Pradesh Electricity Regulatory Commission (APERC) approved the procurement on November 11, 2021. Following APERC's approval, the Power Sale Agreement (PSA) was signed between SECI and the AP Discoms on December 1, 2021, after receiving approval from the Central Electricity Regulatory Commission (CERC).
The YSRCP reiterated that the solar power deal was transparent and legally compliant, distancing itself from the allegations surrounding the Adani Group.