Adani Green Energy Limited (AGEL) said Friday, Nov. 13, that a ₹56.75 crore entry for its Tarali project covered surveys. The disputed figure could affect a conservation deposit calculated as a share of project cost if accepted. The company said the entry appeared in an online forest and wildlife proposal and represented preliminary site investigations, not the full project cost.
The Ministry of Environment, Forest and Climate Change's environmental clearance, issued Feb. 11, 2025, lists the estimated cost at ₹5,675 crore. It describes a 1,500-megawatt pumped-storage project across 150.74 hectares in Satara district, Maharashtra, India. The clearance says approval from the National Board for Wildlife (NBWL) is required.
AGEL said the survey costs amounted to about 1% of the project estimate and that the State Board for Wildlife (SBWL) had considered ₹5,675 crore the total project cost. In a Nov. 13 statement quoted by Hindustan Times, the company denied that the lower figure was intended to reduce its statutory conservation obligations.
The Indian Express reported that AGEL Chief Operating Officer Naresh Telgu submitted a notarized affidavit on Sept. 8 asking Maharashtra's forest department to consider ₹56.75 crore as the project cost. The newspaper said it reviewed the affidavit, which described the figure as based on an “analogous estimation.”
The reported deposit is calculated as a share of project cost. The Indian Express said SBWL's Feb. 23 conditions called for a deposit of 4% and that a March letter sought ₹227 crore using the ₹5,675 crore estimate.
Reports have described the affidavit's status differently. M Srinivas Reddy, Maharashtra's Principal Chief Conservator of Forests (Wildlife), told Hindustan Times the department had not approved the new estimate and was awaiting AGEL's explanation and supporting records. The Indian Express earlier reported that a state office accepted the affidavit on Oct. 12.
Hindustan Times and The Indian Express reported that the ministry directed Maharashtra's forest department on Nov. 6 to investigate the matter as a priority. The clearance also requires NBWL approval, which The Indian Express reported was still pending. Reddy told Hindustan Times the department was awaiting AGEL's response.
