Adani Tarali project cost row: Adani Green denies lowering Rs 5,675 crore estimate to Rs 56.75 crore

Adani Green Energy has denied that it lowered the cost of its 1,500 MW Tarali pumped storage project in Maharashtra to cut its wildlife payments, after the Indian Express reported that the stated cost fell 99 per cent, from Rs 5,675 crore to Rs 56.75 crore. The Adani Tarali project cost row began on 13 November, when Congress renewed its demand for a Joint Parliamentary Committee probe into the Adani Group. The company called the allegation “completely misleading” on Friday, IANS reported. 3

What happened

The Indian Express investigation, as summarised by National Herald, traced the project cost through official papers. A Union environment ministry letter of 11 February 2025 recorded the cost as Rs 5,675 crore. In March 2026, the state’s Principal Chief Conservator of Forests (Wildlife), M. Srinivas Reddy, wrote to the company seeking Rs 227 crore as a conservation contribution. 1

On 8 September 2026, Adani Green Energy filed a notarised affidavit asking that Rs 56.75 crore be treated as the project cost, the report said. On 12 October, Reddy told the company his office had accepted it and sought 1 per cent of the revised figure immediately. The company deposited Rs 56.75 lakh into the Sahyadri Tiger Reserve account. 1

Satara honorary wildlife warden Rohan Bhate filed a complaint on 30 October through the Prime Minister’s grievance portal and Maharashtra’s Aaple Sarkar platform. On 6 November, the Union environment ministry asked state authorities to investigate promptly, according to a PTI report on ThePrint. 2

Key numbers

• Stated project cost: Rs 5,675 crore cut to Rs 56.75 crore, a 99 per cent fall, per National Herald.
• Conservation contribution: Rs 227 crore to Rs 2.27 crore, per PTI on ThePrint.
• Deposit made: Rs 56.75 lakh, or 1 per cent of the revised cost, per National Herald.
• Site: 150.74 hectares of non-forest land in Patan taluka, per National Herald.

Who is Adani Green Energy

Adani Green Energy is the renewable energy company of the Adani Group, which is led by Gautam Adani. Pumped storage plants sit in the energy and climate space, where reservoirs store power for later use. The group has said it plans more than $120 billion of capital spending over five years, as covered in our report on the Adani Group capex plan.

According to the state forest department, as cited by National Herald, the project lies in the buffer or deemed eco-sensitive zone of Koyna Wildlife Sanctuary, part of the Sahyadri Tiger Reserve. Private projects in that zone may be asked to contribute up to 4 per cent of cost to conservation.

What people said

Congress general secretary Jairam Ramesh shared the report on X and wrote: “It points to a scandal of gigantic proportions, reinforcing the demand for a JPC into its operations,” PTI reported. Congress has sought a JPC probe into the group since March 2023.

Adani Green Energy rejected the allegation. In its statement, quoted by IANS, it said the project “is situated entirely on private, non-forest land and 3.2 kms away from the Koyna wildlife sanctuary.” It said the Rs 56.75 crore figure in an online proposal covered only site investigation costs, and that the State Board for Wildlife considered total costs of Rs 5,675 crore. An Adani Group spokesperson also said the project is on privately owned land, per National Herald, but did not answer questions about the revised cost. Reddy declined to answer questions about the affidavit and referred them to the company.

What happens next

The Adani Tarali project cost question now sits with the state forest department, which the Union environment ministry told on 6 November to investigate. The remaining 3 per cent of the conservation contribution is payable after National Board for Wildlife approval, National Herald reported. The documents reviewed did not explain how the lower figure was calculated. None of the sources reported a finding by a regulator or court, and the company denies the allegation.