Narc Kenya party leader Martha Karua has urged Energy Cabinet Secretary Opiyo Wandayi to reconsider proceeding with the KETRACO-Adani project deal following corruption charges levelled against the Indian conglomerate in the United States.
Speaking on Thursday, November 21, 2024, when he appeared before the Senate Committee, Wandayi insisted the charges against Adani Group executives in the US have no bearing on the Kenyan project.
“They [the charges] are not related to this project. We can’t even vouch for their veracity. We could be engaging in speculation. There has been no case of corruption or bribery as far as this PIP of Adani Energy Solutions is concerned,” he told the committee.
The deal, valued at Ksh95.68 billion grants Adani Energy Solutions the responsibility to develop, finance, construct, and operate vital transmission lines and substations across Kenya.
Wandayi stated that the government was unaware of the US charges at the time of signing the agreement and confirmed that the KETRACO-Adani project deal would move forward.
“We are proceeding on the basis of the outcome of the very rigorous due diligence exercise that was undertaken by the contracting authority in line with the law,” he said.
Karua questions Adani’s suitability
Narc Kenya party leader Martha Karua, however, issued a sharp critique of Wandayi’s stance.
Taking to X (formerly Twitter), Karua argued that the ongoing corruption charges in the US make Adani unsuitable to partner with the Kenyan government.
“Be advised @OpiyoWandayi that having uncleared corruption/fraud cases, whether in the @USA or anywhere in the world, makes Adani unsuitable to transact with @KenyaGov unless, of course, the Ruto regime is looking for tainted characters,” Karua wrote, using the hashtag #StopAdani.
Karua’s remarks follow revelations that a US court charged Adani Group’s billionaire chairman, Gautam Adani, and two other executives with orchestrating a multibillion-dollar fraud scheme.
Prosecutors claim the executives paid bribes totalling approximately Ksh32.4 billion ($250 million) to Indian government officials between 2020 and 2024 to secure solar energy supply contracts projected to generate $2 billion in profits.
Adani Group denies allegations
In response to the charges, the Adani Group issued a statement vehemently denying the allegations.
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied,” the statement shared by the company spokesperson read in part.
“As stated by the US Department of Justice itself, the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty. All possible legal recourse will be sought,” it added.
Amid growing scrutiny, the Group reassured its stakeholders and partners that it consistently upholds the highest standards of integrity in its operations.
The Indian conglomerate also moved to allay the fears of its employees, maintaining that the firm is law-abiding.
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws,” the company stated.
The group reaffirmed its commitment to legal recourse, emphasizing that the accused executives are presumed innocent until proven guilty.
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency, and regulatory compliance across all jurisdictions of its operations,” the spokesperson said.
The statement follows global headlines about the company’s indictment, raising concerns in several countries where the Indian conglomerate has shown interest in pursuing projects, including Kenya.
According to the US Attorney’s Office for the Eastern District of New York, Gautam Adani faces charges of conspiracy to commit securities and wire fraud.
Adani, one of India’s wealthiest individuals, is set to be charged alongside Sagar R. Adani and Vneet S. Jaain, executives of an Indian renewable energy firm.
