New Delhi, July 17, 2024 — In a significant demonstration of support, US Ambassador to India Eric Garcetti visited Adani Group‘s Khavda renewable energy project, the largest of its kind in the world. This visit marks a milestone for the conglomerate, signaling its recovery from the recent Hindenburg controversy and gaining new international backing.
“Inspired by my visit to the Khavda Renewable Energy Facility in Gujarat, where I learned about @AdaniGreen’s innovative projects advancing India’s zero-emissions goals. Sustainable energy is a cornerstone of environmental stewardship, and our bilateral partnership is key to shaping the solutions for a cleaner and greener future for the region and the world,” Garcetti posted on social media after his visit on July 16. He also shared photos from the visit.
Adani Green Energy Ltd is developing the Khavda project in Kutch, Gujarat, which aims to generate 30,000 MW of renewable energy across 538 square kilometers. The project, which is five times the size of Paris and nearly as large as Mumbai, has already operationalized 2,000 MW of solar capacity within a year of starting work, with full completion targeted by 2030.
Group chairman Gautam Adani responded by posting a picture with Garcetti and expressing gratitude for the visit. “Grateful to @USAmbIndia for his visit to Adani’s 30 GW Renewable Energy site at Khavda and Mundra Port. Invaluable insights on geopolitics, energy transition, and India-U.S. relations in an open and candid Q&A with Adanians. Amazing to see his adoption of Indian culture, from kadak chai to celebrating Holi, to playing cricket to speaking in Hindi and eating chole bhature every day!” Adani said.
The publicized visit underscores the US government’s confidence in India’s largest infrastructure conglomerate. This support comes months after US short-seller Hindenburg Research accused Adani Group of corporate fraud and stock manipulation—allegations that the group has consistently denied. Since then, Adani Group has managed a remarkable comeback, with most of its listed companies recovering from the Hindenburg-induced losses.
Adani Group has been pivotal in India’s strategic infrastructure initiatives, often in competition with China’s extensive ‘String of Pearls’ and ‘Belt and Road Initiative’ (BRI). Notably, Adani’s acquisition of Haifa port in Israel, outbidding Chinese interests, highlighted its growing global influence.
The Hindenburg report was published soon after the Haifa acquisition, and Senior lawyer Mahesh Jethmalani has alleged that the report was commissioned by a businessman with Chinese ties. He claims Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg to produce the damaging report on Adani, using Uday Kotak-owned Kotak Mahindra Investments Limited (KMIL) to set up a trading account for short-selling Adani shares.
During his visit, Garcetti also stopped by Adani’s head office in Ahmedabad, where he emphasized the importance of the US-India partnership and India’s increasing role in the geopolitical landscape.
Adani Group, through its infrastructure projects, including ports and power, continues to compete with China across various regions, such as Sri Lanka, Bangladesh, the Middle East, Israel, Africa, Australia, and Myanmar. The group has recently secured approval to build a port in Vietnam, further solidifying its global footprint.
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