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Tim Buckley, director of Energy Finance Studies of the US-based think tank Institute for Energy Economics and Financial Analysis (IEEFA), said, “Adani Power is the largest producer of renewable energy in India, which is now the cheapest among all other power generating sources of the country. They even acknowledged that solar energy price will drop by 99 percent in the next four decades.” “If Bangladesh really needs electricity from Adani, it should ask for cheap renewable energy. Otherwise, people in Bangladesh have to pay a much higher price for electricity from Adani Godda coal-fired power plant,” he added. Read more

“[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance. The Adani Group is not only one of the largest developers and operators of coal mines in India, but also operates the controversial Carmichael Coal Mine in Australia, which has faced fierce opposition from climate change campaigners who say it is a “death sentence” for the Great Barrier Reef. “Rather than ploughing billions into new fossil fuel projects, India would be far better served if Adani put 100% of its efforts and resources into developing low-cost zero emissions technologies,” Buckley added. Read more

“Investing in green bonds issued by a group that is one of the largest private fossil fuel developers in the world is total greenwash, a perfect example of investor fraud. I think it’s very telling that this bond raise excludes the US. [The US is] the best-regulated market in the world, in my view, in terms of financial markets, and this bond is excluded from that for very clear reasons that were raised by Hindenburg… and which are still outstanding, in my mind, today.” Read more

India’s richest men, including Mukesh Ambani and Gautam Adani, are investing billions into clean energy, even though they made their empire on the backs of fossil fuels. “There has probably never been a better time than now for India to grow more sustainably,” said Tim Buckley director of Sydney-based think tank Climate Energy Finance. That’s because of two main reasons: the world is seeing unprecedented levels of investment in clean technologies following Russia’s invasion of Ukraine and solar energy is getting significantly cheaper, he explained. Read more

Not making any new commitments to coal is good news, says Tim Buckley, the director of the think thank Climate Energy Finance, but there’s a downside for those affected by existing operations: “’No new coal’ means you rush to complete all the mines that are already there,” he said. Read more

“These reports detail a multitude of new allegations and report hard evidence that a web of now named associates of the Adani Group has engaged in deliberate stock price manipulation and thin capitalisation,” Tim Buckley, director of Australian-based independent think tank Climate Energy Finance, wrote on LinkedIn. Read more

At the beginning of June, the Toxic Bonds initiative collected evidence that confirms that funding into Adani Green Energy is being redirected, through collateralisation and related party transactions, to other Adani Group entities directly responsible for coal expansion projects. “Any so-called green investment in Adani Green directly supports the wider Adani Group to be the world’s largest private coal mine and coal power plant developer,” says Tim Buckley. Read more

Tim Buckley says the new US-Australia Climate, Critical Minerals and Clean Energy Transformation Compact agreed by US President Biden and PM Albanese provides a landmark policy statement of strategic intent, formalising collaboration and coordination of policies and investments to expand and diversify the clean energy and critical minerals supply chains that underpin global decarbonisation. Read more

Tim Buckley notes that Adani is “investing far more in new fossil fuel projects than in zero emissions alternatives”, it is “undermining its ESG claims to be the green energy champion of India”; and that a silver lining of Hindenburg’s report is that “India may see the folly of pursuing an expensive imported fossil fuel expansion plan that increases India’s energy security risks”. Read more

Bloomberg looks at Vinod Adani, Gautam’s brother and a key figure in the family empire, who has cut ties with companies linked to the Carmichael project. Tim Buckley, who’s observed the conglomerate for years, said it seems like a “logical house-cleaning” to distance Vinod from the Adani empire. Read more

Citing Tim Buckley’s commentary on Adani Group, Himal Southasia magazine panellists look at the conglomerate’s long reach – from energy to transport and logistics, from India to Sri Lanka and Bangladesh and Myanmar – which says as much about the conglomerate as it does about power, politics and diplomacy in the region. Read more

Forbes probes Vinod Adani, Gautam’s older brother accused by Hindenburg of market manipulation and money laundering. “While his brother gives speeches and hobnobs with politicians, Vinod stays in the shadows. ‘I’ve always thought it was a partnership,’ says Tim Buckley. ‘Gautam was the warm, cuddly, friendly public face, and Vinod was the mastermind in the private tax haven, the real puppet master’.” Read more