Andhra Pradesh Suspends Adani Power Purchase Deal Amid U.S. Indictment

India's Andhra Pradesh is likely to suspend a power purchase agreement with Adani Group due to a U.S. indictment of Gautam Adani. Sources reveal that the state is also requesting an investigation by federal solar bodies and the government, emphasizing a cautious approach.

India's Andhra Pradesh state is expected to suspend a power purchase agreement associated with Adani Group, following a U.S. indictment of the group's founder, Gautam Adani. State government sources disclosed this exclusive information to Reuters.

The move highlights Andhra Pradesh's cautious stance as it grapples with the implications of the legal challenges facing Adani Group. Such actions are anticipated to send ripples through the energy sector.

Furthermore, the state government plans to involve federal solar bodies and the national government, urging them to investigate the matter thoroughly. This reflects a strategic approach to ensure transparency and accountability amid the unfolding situation.

(With inputs from agencies.)