In February this year, the $1.2 trillion sovereign wealth fund, the world’s largest, decided to exclude Adani Green Energy Ltd. (AGEL) from its portfolio due to concern about its alleged links to financial crime. File
| Photo Credit: Reuters
Congress leader Rahul Gandhi on Tuesday (May 19, 2026) took a swipe at Prime Minister Narendra Modi, asking if Norway agreed to his “personal request” to remove Adani from the pension fund black list.
Mr. Gandhi posed his query after Norway’s sovereign wealth fund dropped Adani Green from its portfolio in February. “We get very good information these days. Modi ji, did Norway agree to your personal request to remove Adani from their pension fund black list?” Mr. Gandhi said in a post on X.
He used a picture of news reports: one from February 27 saying, “Norway’s sovereign wealth fund drops Adani Green Energy from its portfolio” and another from May 18 saying “PM Modi begins historic Norway visit – the first by an Indian Prime Minister in 43 years”.
In February this year, the $1.2 trillion sovereign wealth fund, the world’s largest, decided to exclude Adani Green Energy Ltd. (AGEL) from its portfolio due to concern about its alleged links to financial crime.
Norges Bank, which had in May 2024 excluded Adani Ports and Special Economic Zone Limited, on its website added AGEL to the list of companies that it has decided to exclude from its portfolio. It cited “gross corruption or other serious financial crime” as the criterion for its decision but gave no explanation.
When Norges Bank first bought AGEL shares in July 2020, the share price was ₹341 and on February 27 it was ₹944. While AGEL did not immediately offer any comments, industry officials said a fossil fuel-funded sovereign fund was trying to create a narrative against a renewable energy company.
Published – May 19, 2026 05:22 pm IST
