India’s Antitrust Watchdog CCI Dismisses Allegations In Adani Solar Bid Case, Finds No Violation Of Competition Law

CI rules that the solar tender design was not anti-competitive and was within the broader policy framework.

India’s antitrust watchdog, the Competition Commission of India, has dismissed allegations against the Adani Group in connection with a solar power tender, ruling that there was no abuse of dominance or anti-competitive conduct in the bidding process.

The case pertained to a 2019 tender floated by the Solar Energy Corporation of India for 7 GW of solar power projects linked to domestic manufacturing capacity. The informant had alleged that the tender design unfairly favoured large players such as Adani entities and Azure Power, effectively sidelining smaller competitors.

Key concerns raised included provisions like the transfer of unallocated capacity and the “Green Shoe” option — a mechanism that allows successful bidders to acquire additional capacity if demand remains unfulfilled. According to the informant, these features enabled consolidation of projects in favour of Adani companies.

However, the CCI rejected these claims, holding that the solar tender design was not anti-competitive and was within the broader policy framework. The regulator specifically noted that the Green Shoe clause was a valid mechanism and did not distort competition.

The Commission also dismissed allegations of bid-rigging or collusion, stating that there was no evidence to suggest that the bidding process was manipulated. Claims that Azure Power acted as a “proxy bidder” for Adani were found to be unproven, with no material evidence supporting the assertion.