In a notable development, US Ambassador to India Eric Garcetti visited Adani Group’s Khavda renewable energy project, the largest of its kind globally, signaling renewed confidence in the conglomerate post-Hindenburg allegations.
On July 16, Garcetti visited the Khavda Renewable Energy Facility in Gujarat and lauded Adani Green Energy’s efforts in advancing India’s zero-emissions goals. “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 X (formerly Twitter), along with pictures from his visit.
Adani Green Energy Ltd (AGEL) is developing this monumental 30,000 MW renewable energy project on barren land at Khavda in Kutch, Gujarat. Spanning 538 square kilometers, the project area is five times the size of Paris and almost as large as Mumbai. Within 12 months of commencing work, AGEL has operationalized 2,000 MW of solar capacity, 6% of the planned 30,000 MW, with full completion targeted by 2030.
Gautam Adani, Group Chairman, responded to Garcetti’s visit by expressing gratitude on X. “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!”
This visit and its subsequent publicity are seen as a strong endorsement of the Adani Group by the US government, coming months after US short-seller Hindenburg Research accused the group of corporate fraud and stock manipulation. The Adani Group has denied all allegations and has rebounded significantly, with most of its listed companies recovering losses induced by the Hindenburg report.
The Adani Group plays a crucial role in India’s strategic infrastructure projects, competing with China’s extensive ‘String of Pearls’ and ‘Belt and Road Initiative’ (BRI). Notably, the group’s acquisition of Haifa port in Israel, outbidding Chinese interests, highlighted its expanding global influence.
Senior lawyer Mahesh Jethmalani alleged that a businessman with Chinese links commissioned the Hindenburg report to undermine Adani’s global ventures. He claims that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg, using Uday Kotak-owned Kotak Mahindra Investments Limited (KMIL) to set up a trading account for short-selling Adani shares, as stated in a SEBI notice.
During his visit, Garcetti also met with Adani Group executives in Ahmedabad, emphasizing the importance of the US-India partnership and India’s growing geopolitical significance. The Adani Group continues to expand its global presence through various infrastructure projects, including ports and power, across regions such as Sri Lanka, Bangladesh, the Middle East, Israel, Africa, Australia, and Myanmar, and has secured approval to build a port in Vietnam.
