Do Adani’s woes matter for India’s clean energy transition?

By SIBI ARASU and ANIRUDDHA GHOSAL
Associated Press

BENGALURU, India (AP) — Gautam Adani and his companies lost tens of billions of dollars and their stock plummeted after the businesses were accused of fraud and stock price manipulation. Despite Adani’s renewable energy targets accounting for 10% of India’s clean energy goals, some analysts say Adani’s woes are unlikely to hurt India’s energy transition. Analysts say that with a big government-favored player like Adani forced to scale down, companies that have been reluctant to bid for clean energy projects in India are likely to step up now. That can lead to a more competitive market that will lead to higher investments in green energy in India.