Adani bribe row: If no takers, bidders can cut tariff suo motu, says SECI

Communication between SECI and some states suggest tariff was lowered by Adani and Azure after it became tough to find buyers at a price considered expensive

For the first time since its tendered project became a bone of contention in the Adani bribe controversy, the Solar Energy Corporation of India (SECI) has issued a public statement explaining its “unique business model’’. SECI — a central public sector enterprise under the ministry of new and renewable energy (MNRE) — on Tuesday said a bidder of any project can lower the discovered tariff after the bidding process, if it can’t find takers for power sale at a higher rate.

 

The SECI statement, came five days after the US ‘indictment’ against Adani Green and NYSE listed Azure Power, did