Snehasis

In a bombshell revelation, The Reporter's Collective exposed how the GOI tweaked rules for Adani's power deal.

It's been over 24 hrs, yet not a word of denial from the Power Ministry, Renewable Energy Ministry, or SECI.

Has GoI silently accepted these allegations?

Thread.
1/ 

This is the first time allegations on the ₹2000 CR bribe gate have crawled upto the doorsteps of the govt.

The SECI acts as intermediary to buy power from power companies and sell it to states for a commission. Along with Renewable Energy Min, it sets the auction specifics.
2/

In 2018, SECI designed manufacturing-linked auctions to favor companies involved in both solar power production and component manufacturing, a criteria tailor-made for a select few. This lessened competition from other companies and Adani became a clear beneficiary of it.
3/ 

Eventually, three parties bid for it:
Azure
Adani
Navayuga Eng

Navayuga Eng bidded for the highest amount. It lost. 

They were in talks with Adani to sell their stakes in Krishnapatnam Port. Just a mon after bidding, the deal was finalized, which is clear case of collusion. 
4/ 

The regulatory body purposefully did not look into the charges of bidder collusion.

SECI offered additional power capacity to all three without bidding. Only Adani bagged it while others did not avail.

Put differently, Adani benefitted from decision of Azure and Navayuga.
5/

The SECI issued Letters of Award to Adani and Azure at ₹2.92/kWh.

The SECI couldn't find any state to buy at a high price. 

In an unprecedented move, one and half year later, both parties decided to reduce tarrifs on their own to Rs 2.54 and 2.42/kWh. 

Question is, why?
6/

The new power prices had to be ratified by the GoI

In the hearing, now Finance Min of AP and close aide of Naidu, Payyavula Keshav alleged that combining solar power generation with solar equipment manufacturing in the tender was illegal.

CPI's K Rama Krishna also objected.
7/

The regulator Central Electricity Regulatory Commission completely washed off it's hand from the controversy. 

They refused to intervene and left it to the "govt's wisdom."

Read how the govt bent rules after rules in this ₹2000 crore bribe gate.

END https://www.reporters-collective.in/trc/adanis-bribery-scandal-originated-in-a-dubious-solar-power-auction-that-modi-govt-scripted