Overview

• Rameshwar Prasad Gupta, CMD of the Solar Energy Corporation of India (SECI), was terminated with immediate effect just weeks before his tenure was set to end.
• The dismissal follows SECI's alleged involvement in a US Department of Justice indictment accusing the Adani Group of paying Rs 2,029 crore in bribes to secure solar energy contracts.
• Congress claims the removal of Gupta is an attempt to cover up SECI’s role in the alleged bribery scheme, escalating political tensions over the issue.
• SECI faces additional challenges, including regulatory disputes such as the Central Electricity Regulatory Commission rejecting tariffs for its battery energy storage project.
• Despite controversies, SECI has reported significant financial growth, with revenues rising 181.8% from FY20 to FY24, reflecting the broader expansion of India’s renewable energy sector.