Industrialist Gautam Adani visited China to meet industrial equipment manufacturers earlier last week, according to a Bloomberg report. Accompanied by Sagar Adani, his nephew, and the Executive Director of Adani Green Energy. Gautam Adani also met with a solar module manufacturer in China.
Why Adani’s China visit is important?
The Adani Group is setting up one of the biggest solar parks in the world in Gujarat. The company is also a leading solar panel manufacturer in India. China is the biggest exporter of solar cells and solar modules. Adani’s visit to China is expected to better business ties between the two countries.
According to the Bloomberg report, Adani visited the manufacturing plant of Jinko Solar Company in China. In a social media post, Jinko Solar said that the company’s energy storage products will be integrated into the Adani solar project. The company added that its products, which can withstand high temperatures, are well-suited for Indian conditions.
Furthermore, Gautam Adani visited Broad Group’s manufacturing facilities. The Broad Group also manufactures renewable energy solutions, particularly wind turbines.
Adani and SEC indictment
This is Gautam Adani’s first international trip since the United States brought up civil and criminal cases against him in November last year. Along with his nephew Sagar Adani, Gautam Adani, the second richest man in Asia, is facing criminal and civil charges in the United States for alleged involvement in a $250 million bribery scheme.
The Securities and Exchange Commission alleged that the duo was involved in bribing local officials in India to secure solar power contracts.