Wandayi said this is despite the fraud charges in the US.
The Energy CS emphasised that comprehensive due diligence was conducted by the government.
Speaking on Thursday when he appeared before the Senate Committee, Wandayi said the government did not know of any other adverse matters that would have come to light.
“Therefore we are proceeding based on the outcome of the phases conducted,” he said.
“So would this emerging report affect in any way affect the project? We can’t tell because it is not related to this project.”
Wandayi said the government had conducted due diligence on the Adani Group before engaging the conglomerate.
“On the matter of Adani's indictment, under section 41 of the Private Public Partnership (PPP) Act, we have an elaborate mechanism for undertaking due diligence,” he said.
“The PPP Directorate domiciled under the Treasury in coordination with KETRACO conducted a due diligence exercise on Adani Energy Solution in two phases.”
Wandayi said phase one involved document review of all documents and soft copies that the proponent provided to describe their legal, technical, financial and logistical capacity to undertake similar projects.
He added that Adani Solutions had provided documents demonstrating their legal standing compliance to rules and regulations including tax compliance in their country, which is Indian.
The CS said that in phase two, due diligence was conducted by a team of eight officers, all members of the evaluation committee from KETRACO and the Directorate, who travelled to India to verify the documents provided during phase one.
He said after conducting the phases, KETRACO was of the view that Adani Solutions passed the test.
Wandayi said there has been no case of corruption and bribery as far as PIP of the Adani Solutions is concerned.
On October 11, 2024, Wandayi announced the signing of a multi-billion shilling deal between KETRACO and Adani Energy Solutions Limited.
Wandayi stated that the deal, which is estimated at Sh95.68 billion (USD 736 million), will see the Indian company develop, finance, construct, and operate critical transmission lines and substations across the country.
On Wednesday, a U.S. court charged billionaire businessman Guatman Adani over an alleged multibillion-dollar fraud scheme, U.S. prosecutors said.
Adani was charged alongside two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than approximately Sh32.4 billion ($250 million) in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2 billion in profits.
However, in a statement on Thursday, the Adani Group spokesperson denied the allegations by the US Department of Justice and the US Securities and Exchange Commission.
The spokesperson stated that Adani remains innocent until
proven guilty.
