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Gautam Adani, chair of Indian conglomerate Adani Group, addresses a gathering during the Vibrant Gujarat Global Summit 2024 in Gandhinagar, Gujarat, India, on Jan. 10, 2024.

Punit Paranjpe | AFP | Getty Images

Gautam Adani, chair of India’s Adani Group and one of the world’s richest people, was indicted with others in New York federal court on charges related to a massive bribery and fraud scheme, authorities said Wednesday.

Adani and other defendants are accused in the indictment of having paid Indian government officials more than $250 million in bribes to obtain solar energy supply contracts worth more than $2 billion in profits.

The 62-year-old billionaire and two executives in Adani Green Energy Limited, his nephew Sagar Adani and Vneet Jaain, are charged with misleading U.S. and international investors about their company’s compliance with antibribery and anticorruption practices as they raised more than $3 billion in capital to fund those energy contracts.

Both Adanis and Jaain are charged with securities fraud conspiracy, wire fraud conspiracy and securities fraud.

The five-count indictment in U.S. District Court in Brooklyn also charged Ranjit Gupta and Rupesh Agarwal, who were former executives in the renewable energy company Azure Power Global, as well as three former employees of the Canadian institutional investor Caisse de Depot et Placement du Quebec: Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra.

A worker walks past rows of solar panels at the Adani Group-owned Khavda Renewable Energy Park in Khavda, India, on Jan. 12, 2024.

Punit Paranjpe | Afp | Getty Images

Those defendants are accused of conspiracy to violate the Foreign Corrupt Practices Act in connection to the bribery scheme by Adani and the others at the energy company.

Cabanes, Saurabh Agarwal, Malhotra and Rupesh Agarwal are also accused of conspiring to obstruct U.S. federal criminal and Securities and Exchange Commission investigations into the bribery scheme.

Although the alleged criminal activity at the center of the indictment occurred in India, the defendants are charged in Brooklyn federal court because of alleged actions that occurred in the Eastern District of New York in connection with the bribery scheme and capital-raise effort.

Those actions included alleged false statements of material facts or omissions from statements related to a bond issuance that raised capital for the solar energy contracts.

The SEC filed civil complaints Wednesday against Gautam Adani and Sagar Adani, as well as against Cabanes, who is an executive at Azure Power Global, in connection with alleged bribery that enabled Adani Green Energy and Azure to capitalize on solar energy contracts awarded by India’s government.

The SEC’s complaints note that during the alleged scheme, Adani Green raised more than $175 million from U.S. investors, and Azure’s stock traded on the New York Stock Exchange.

“Gautam and Sagar Adani orchestrated a bribery scheme that involved paying or promising to pay the equivalent of hundreds of millions of dollars in bribes to Indian government officials to secure their commitment to purchase energy at above-market rates that would benefit Adani Green and Azure Power,” the SEC said.

“Cabanes allegedly facilitated the authorization of bribes in furtherance of the scheme while in the United States and abroad,” the agency said.

Gautam Adani is the second-richest person in Asia, with a reported net worth of $85 billion.

He lost tens of billions of dollars in personal wealth in early 2023 when the short-selling firm Hindenburg Research published a report accusing the Adani Group of engaging “in a brazen stock manipulation and accounting fraud scheme over the course of decades.”

Hindenburg’s report called it “the largest con in corporate history.”

Adani issued a 413-page response to Hindenburg, calling the allegations baseless.

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Massachusetts launches a two-year V2X pilot program

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Massachusetts launches a two-year V2X pilot program

Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.

These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.

The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.

Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:

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  • No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
  • Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
  • Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
  • Backup power: EV batteries can be used as backup power sources during outages.
  • Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.

Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”

“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.

The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.

Read more: Cambridge’s new solar VPPA is the largest ever by any US city


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Compton, California, just got its first 25 electric school buses

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Compton, California, just got its first 25 electric school buses

Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.

Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.

Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.

“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.

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CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.

Read more: Thomas Built Buses debuts its next-gen electric school bus


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Rivian’s R1S electric SUV just got way cheaper to lease

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Rivian's R1S electric SUV just got way cheaper to lease

After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.

Rivian cuts R1S lease prices by $200 per month

Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.

With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.

Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.

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The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.

Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.

Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.

Starting Price Range
(EPA-est.)
2025 Rivian R1S Dual Standard $75,900 270 miles
2026 Tesla Model Y Launch Series $59,990 327 miles
Rivian R1S Dual Standard vs new Tesla Model Y Launch Series

To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.

The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.

Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.

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