Sri Lanka has cancelled a power purchase agreement with Indian billionaire Gautam Adani’s conglomerate after allegations of corruption in a US probe last year, international media reported citing unnamed government officials.
Advertisement
While the Anura Kumara Dissanayake-led government has revoked the deal signed by the previous administration, the project itself is not cancelled, according to an Agence France-Presse story published on Friday. Adani Group’s wind power project will now be reviewed by a committee, it added.
The previous Sri Lankan government had in May 2024 agreed to buy electricity at 8.26 US cents per kilowatt from Adani’s renewable energy complex that is yet to be built in the island nation.
The Sri Lankan cabinet’s decision to re-evaluate the tariff that was approved last year “is part of a standard review process, particularly with a new government, to ensure that the terms align with their current priorities and energy policies,” Adani spokesperson said in a statement.
Denying that its 484 megawatts wind power projects in Sri Lanka were cancelled, the Adani spokesperson calling such reports “false and misleading.”
Remain Committed