Adani Green Energy (AGEL) has once again clarified its position regarding recent rumors, emphasizing that there are no allegations against the company in the US Department of Justice's indictment. This reaffirmation comes in response to recent market speculations, media reports, and following reports of Adani representatives meeting Trump administration officials regarding the matter.

Official Clarification

In a statement to the Bombay Stock Exchange (BSE), Adani Green Energy addressed the rumors circulating in the market. The company categorically stated:

• There are no allegations against Adani Green Energy Limited in the US Department of Justice's indictment.
• The company is not a party to any ongoing proceedings related to the rumors.
• AGEL maintains its innocence and plans to pursue legal recourse against accusations.

This clarification serves to dispel any doubts and provide transparency to investors and stakeholders.

Background and Context

The clarification from Adani Green Energy comes in the wake of recent news articles suggesting potential involvement of Adani representatives in discussions with U.S. officials regarding bribery cases. However, AGEL has distanced itself from these reports, reiterating its non-involvement in any such matters.

Previous Disclosure

Adani Green Energy referred to a previous disclosure made on November 21, 2024, where the company had already addressed similar concerns. In that disclosure, AGEL had submitted that no allegations were made against the company and that it was not a party to any related proceedings.

Regulatory Compliance

The company's prompt response to the BSE's inquiry demonstrates its commitment to regulatory compliance and transparency. By providing timely clarifications, Adani Green Energy aims to maintain investor confidence and uphold its corporate governance standards.

Conclusion

As one of India's leading renewable energy companies, Adani Green Energy's clarification is significant for investors and market watchers. The company's strong denial of any allegations or involvement in ongoing proceedings aims to reassure stakeholders about its operational integrity and corporate governance practices.

Investors and market participants are advised to rely on official communications from the company and regulatory filings for accurate information regarding Adani Green Energy's affairs. The company's stance on pursuing legal recourse against accusations further underscores its commitment to protecting its reputation and interests.

Adani Green Energy , a leading renewable energy company, has made a significant stride in expanding its solar power portfolio. The company has recently entered into a Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL), marking a substantial development in India's renewable energy sector.

Key Details of the Agreement

Strategic Implications

This agreement represents a major step forward for Adani Green Energy in its mission to increase its renewable energy footprint across India. The deal not only strengthens the company's position in the solar power market but also contributes to the nation's growing focus on clean energy solutions.

Project Specifics

The power will be generated from a grid-connected solar PV power project set to be developed in Rajasthan. This strategic location choice likely leverages the state's abundant solar resources, potentially optimizing the project's efficiency and output.

Impact on Uttar Pradesh's Power Landscape

For UPPCL, this agreement signifies a substantial boost to its renewable energy portfolio. The infusion of 400 MW of solar power into Uttar Pradesh's grid is expected to:

• Enhance the state's clean energy capacity
• Potentially contribute to a more stable power supply
• Support a sustainable energy mix for consumers

Broader Industry Context

This PPA aligns with India's ambitious renewable energy targets and underscores the growing trend of state power distribution companies entering into long-term agreements with renewable energy producers. Such partnerships are crucial for:

• The country's transition towards a greener energy mix
• Meeting India's climate commitments
• Shaping the future of the country's energy landscape

As the renewable energy sector in India continues to evolve, deals of this magnitude play a pivotal role in driving sustainable growth. Adani Green Energy's latest agreement with UPPCL not only reinforces its market position but also contributes significantly to India's sustainable energy goals.