Under fire since Adani indictment, Jagan breaks silence on agreements signed when he was CM

According to the US court indictment, Adani “personally met with Foreign Official 1 in Andhra Pradesh to advance the execution of PSA (power supply agreements) between SECI and AP’s state electricity distribution companies, including on or about August 7, 2021, on or about September 12, 2021 and on or about November 20, 2021”. The “Foreign Official 1”, according to the indictment, “had served as a high-ranking government official of Andhra Pradesh from May 2019 to June 2024”.

While the indictment does not name Foreign Officer 1, a filing by the Security Exchanges Commission filing does say that in August 2021, Adani “met personally with the Chief Minister of Andhra Pradesh…” Between May 2019 and June 2024, Jagan was the CM.

On Thursday, Jagan said that when his party came to power in June 2019, Andhra Pradesh was acquiring power at nearly Rs 5.10 per kWh. By entering into an agreement to purchase power from SECI, Jagan said, his government brought this cost down to Rs 2.49 per KWh.

“The SECI, which is a Government of India enterprise, and the Andhra Pradesh Government signed the agreement. Where is Adani Group involved in this? The tariff of Rs 2.49 per kWh was offered by no one else, and there are so many benefits to the state,” he said.

Jagan accused the Telugu Desam Party of spreading false information. While CM N Chandrababu Naidu has said the allegations against Jagan lowered the state’s brand image, at least two ministers in his cabinet have said the agreements signed under the previous government are under scanner.