‘How can I be involved?’ Former CM Jagan Reddy clarifies on Andhra Pradesh link in Adani issue

VIJAYAWADA: Reacting to the alleged Andhra Pradesh link in the Gautam Adani matter and his statement that third parties like Adani were not involved in the deed, former Andhra Pradesh Chief Minister and YSRCP chief Y S Jagan Mohan Reddy asked how he could be involved and said that it is originated with Solar Energy Corporation of India Limited (SECI).

“How can I be involved?… The origin is SECI’s (Solar Energy Corporation of India Limited) letter. Had SECI’s letter not come to me, had SECI not given the cheapest power offer that the state has ever procured, i.e., Rs 2.45, and had SECI not mentioned the inter-state transmission charges waiver, then none of these things would have happened… It originated with SECI…The signatories in the SECI power sale agreement are none other than the State Government, DISCOMs and SECI. So, it is the central government’s understanding with the state government. This is where it ends…This is where the story begins and this is where the story ends”, Reddy told reporters on Thursday.

He further said that he would also serve defamation notices to media houses for “spreading lies”. “I will be serving defamation notices to media houses…for spreading lies on this subject…If they do not respond within 48 hours of receiving the defamation notice, we will proceed legally. I will sue them for than Rs 100 crore”, he added.

#WATCH | Vijayawada: On Andhra Pradesh link in Adani matter and his statement that third parties like Adani were not involved in the deed, former CM and YSRCP chief YS Jagan Mohan Reddy says, “…How can he be involved?…The origin is SECI’s (Solar Energy Corporation of India… pic.twitter.com/2NDim29n4w

— ANI (@ANI) November 28, 2024

On November 22, the YSRCP clarified that there was no direct agreement between Andhra Pradesh (AP) distribution companies (DISCOMs) and Adani Group. The statement came after US prosecutors charged Adani Group chairman Gautam Adani and others linking them to an alleged bribery scheme.

The Andhra Pradesh government, when Jagan Mohan Reddy was the Chief Minister, entered into an agreement with SECI for a 25-year period to procure power to the extent of 7,000 megawatts at Rs 2.49 per kWh (Kilowatt hour).

“The Government of Andhra Pradesh entered into an arrangement to procure power from SECI (Solar Energy Corporation of India) to the tune of 7,000 MW at Rs. 2.49 per kWh for 25 years with 3,000 MW commencing in FY 2024-25, 3,000 MW commencing in FY 2025- 26 and 1,000 MW commencing in FY 2026-27 with a waiver of the ISTS charges”, the statement read.

“Owing to reasons that the project didn’t entail a burden on account of ISTS (inter-state transmission system) charges, allowing for the procurement of power at cheaper rates, the project would “substantially” benefit the state with savings worth Rs 3,700 crores per annum”, the statement read, adding that the total benefit to Andhra Pradesh would be immense on account of the agreement being for 25 years.

The Adani Group has denied the allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green. The BJP said the law will take its own course and slammed Congress leader Rahul Gandhi over his attack on Prime Minister Narendra Modi. (ANI)