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Adani Green’s Independent Review Reveals No Anomalies on Indictment Charges; Announces Results
April 29, 2025
Adani Green announced that an independent review found no non-compliance or irregularities related to the US indictment accusing its top management of paying $265mn in bribes for power contracts. The Adani Group has denied the charges, calling them “baseless.” The company had appointed independent law firms in January and based on the review concluded it and its subsidiaries complied with all relevant laws. Adani Green stated it does not expect the US legal proceedings to materially impact the group. Despite the indictment, the company reappointed Vneet Jaain as managing director for another five years, praising his role in the group’s energy and infrastructure expansion. The company also announced its FY2025 results, with its EBITDA up by 22% YoY, surpassing $1bn in fiscal year 2025. The company’s operational renewable energy capacity rose 30% YoY to 14.2 GW. It added a record 3.3 GW of greenfield capacity, contributing 16% of national solar and 14% of wind installations.
Adani Green’s 6.7% 2042s traded stable at 87.7, yielding 8.43%.
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