India & Adani
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As Adani Group saga casts a shadow over Modi and India’s economy, will both emerge unscathed?
South China Morning Post
Two years ago, PM Modi vowed that half India’s energy needs would come from renewables by 2030, and Adani unveiled plans to spend US$70bn on green investments, such as batteries, solar and green hydrogen. Post the Hindenburg report allegations, Tim Buckley said: “The Adani Group is unlikely to be able to access any material amount of new capital to complete the proposed green-investment pipeline beyond the existing new facilities already financed and under development”. Read moreRead more
Heads Adani Wins, Tails Bangladesh Loses: A Lopsided Power Deal
Tim Buckley on Adani’s deal to sell power from its Godda plant to Bangladesh: “This appears to be the most expensive, lopsided contract to replenish the pockets of the ex-richest man in Asia, at the expense of the people in Bangladesh.” Read moreRead more
Adani power purchase against ‘public policy’: How could such a deal be signed?
The Daily Star, Bangladesh
On Adani’s deal with Bangladesh to purchase power from the company’s Godda coal-fired power plant, Tim Buckley said: “The way I would put it is heads Adani wins, tails you lose. The contract is so biased against the interests of Bangladesh to the point that one has to wonder why any sensible person would sign it on behalf of the Bangladeshi government. Read moreRead more
JPMorgan Investment Arm Purges Its ESG Funds of Adani Stocks
As JP Morgan removes Adani from its ESG funds, Tim Buckley described the investor losses as an “absolute failure” on the part of regulators and index providers, saying regulators need to stay on top of “the biggest systemic risks, and one of the big systemic risks is the index funds and the lack of clarity and regulatory definition.” Read moreRead more
Bangladesh to pay through the nose for Adani deal
The Daily Star, Bangladesh
On the deal Adani has stitched up with Bangladesh to supply power from its Gooda coal fired power plant, Tim Buckley said “This appears to be the most expensive, lopsided contract to replenish the pockets of the ex-richest man in Asia, at the expense of the people in Bangladesh.” Further extensive commentary in the attached article. Read moreRead more
Gautam Adani’s ties with Modi spur scrutiny of overseas deals
The Financial Times (UK)
Adani had made a deal for Bangladesh to import power from its 1,600MW Godda power plant in India, using coal from Adani’s Australian Carmichael mine. Tim Buckley said the Bangladeshi deal “is one of the most expensive power purchase agreements” he has ever seen and “strategically ridiculous” for Bangladesh. Read moreRead more
Gautam Adani: Will tycoon’s $100bn loss hit India’s green energy dreams?
In this feature, Tim Buckley notes that Adani’s troubles since it was accused of the world’s biggest con by Wall St research firm Hindenburg presents “huge potential capacity for other national players to step up, leveraging their domestic skills and capacity, combined with expanding global capital access and interest in investing in Indian renewables and grid infrastructure”. Read moreRead more
‘Brazen cronyism’: All eyes on Modi following explosive Adani allegations
Tim Buckley told Crikey it’s clear the “pervasive corrupting influence of coal [is] permeating through all government decisions” as India eyes potential global superpower status and “Adani leverages crony capitalism for everything he can milk from it.” Read moreRead more
Inside The Offshore Empire Helmed By Gautam Adani’s Older Brother
Tim Buckley in this Forbes magazine story on Adani’s brother in light of the Hindenburg allegations: “I’ve always thought it was a partnership. Gautam was the warm, cuddly, friendly public face of the pair, and Vinod the mastermind in the private tax haven, the real puppet master.” Read moreRead more
The Adani Group and India’s Foreign Policy
South Asian Voices
A feature on Adani’s international investments and their intersections with India’s foreign policy from Washington based think tank the Stimson Centre quotes Tim Buckley’s commentary from Washington Post. Read moreRead more
Could trouble for Adani trip up Narendra Modi?
Indian PM Modi is accused of helping Adani secure lucrative coal deals. Tim Buckley: “It’s interesting how the bigger Adani got in coal mining in India, the less momentum towards decarbonisation the Indian government seemed to be pursuing,” Read moreRead more
The Adani Group Saga Is Far From Over
This Time magazine story summarises the post-Hindenburg report Adani crisis, quoting Tim Buckley on the fact that the allegations of the “world’s biggest con” mean the conglomerate will need to scale back its plans as it struggles to raise capital Read moreRead more