French energy company TotalEnergies SE said in a statement on monday that it will not make any new investment in adani Group companies until adani Group founder gautam adani is acquitted of bribery charges. In its further statement, energy sector giant TotalEnergies said that it currently has no information about the investigation into the alleged corruption.
What did TotalEnergies say on the whole matter?
TotalEnergies said on this whole matter, "This indictment has not been imposed on any company related to AGEL (Adani Green Energy Ltd) nor adani Total Gas Ltd (ATGL)." The company further said, "Until the allegations and their consequences against the individuals of the adani Group are clarified, TotalEnergies will not make any new investment in adani Group companies."
What is TotalEnergies SE?
Let us tell you, TotalEnergies is one of the largest foreign investors in adani Group companies. It has stakes in adani Green Energy Limited (AGEL) and adani Total Gas Limited (ATGL). The French firm has a 37.4 percent stake in adani Total Gas Limited. Whereas, TotalEnergies holds a 19.75 percent stake in adani Green Energy Limited.
gautam adani has been accused
In fact, a few days ago, seven people including gautam adani have been accused of bribery and fraud of $ 265 million in a court in New York, USA. These seven, including gautam adani, have been accused of offering bribes of more than $ 265 million to officials to secure a $ 2 billion solar power plant project over the next 20 years. However, the adani Group has termed the allegations as "baseless" and has said that it will take legal recourse. The group has said in a statement that all the allegations leveled by the US Justice Department and the Securities Commission are baseless and have been rejected.
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