Gautam Adani visits Chinese equipment makers as US legal woes linger

The go to, together with to a photo voltaic module maker, underscores Adani’s continued efforts to keep up momentum in renewables at the same time as he faces heightened scrutiny overseas. Sagar Adani, who oversees the inexperienced arm of the conglomerate’s sprawling empire, accompanied his uncle on the journey, in response to a social media publish by one of many corporations he visited.

The journey to China might sign a renewed push for worldwide engagement as Gautam Adani tries to shake off controversies, from US authorized troubles to investor considerations about company governance practices, following a bruising short-seller report in early 2023.

Asia’s second-richest particular person, alongside together with his nephew Sagar, face prison and civil fees within the US over their alleged involvement in a $250 million bribery scheme to pay regional officers in India to lock in solar-power contracts.

The Adani Group has denied the claims, although each Gautam and Sagar have curtailed their worldwide journey because the indictment was introduced.

The Indian conglomerate is constructing one of many largest renewable energy parks — 5 occasions the scale of Paris — close to India’s western coast with photo voltaic panels and wind generators.

The billionaire visited a Jinko Solar Co. manufacturing plant, inspecting the power’s automated manufacturing traces, the Shanghai-based firm stated in a press release on June 4. Its vitality storage options are well-suited to India’s high-temperature circumstances and can be built-in into Adani’s tasks to bolster grid stability and renewable vitality absorption, it stated.

Adani additionally visited Broad Group’s services, the Chinese language agency stated in a publish on X. The corporate has a variety of subsidiaries that features a wind turbine producer.

A spokesperson for Adani didn’t instantly remark.

The group’s renewable vitality ramp up plans are essential for 2 of Indian Prime Minister Narendra Modi’s coverage pledges — making the nation carbon impartial by 2070 and self-reliant, particularly in manufacturing.

India is likely one of the largest markets for China’s photo voltaic modules and Adani’s go to might additionally sign room for higher enterprise ties between the 2 international locations.

Whereas relations between the nuclear-armed neighbors stay fraught, there have not too long ago been indicators of a thawing. In January, they agreed to renew direct flights, facilitate visas and restart sharing knowledge of trans-border rivers. Just a few months later, the nations introduced the resumption of an annual pilgrimage to the Tibet Autonomous Area, organized by India’s international ministry, that had been suspended for years after border clashes erupted.