Sri Lanka to reconsider Adani Group wind power project
New government to review $440M Adani wind power project approval
Sri Lanka’s new president, Anura Kumara Dissanayake, informed the Supreme Court on Monday that his government would reconsider the previous administration’s approval of the Adani Group’s wind power project. The attorney general revealed that this decision came from a Cabinet meeting on October 7 and will be finalised after the new cabinet is sworn in post the parliamentary elections on November 14.
In 2022, the Adani Group planned to invest $440 million to develop 484 megawatts (MW) of wind power in Mannar and Pooneryn. Petitioners claimed a lack of transparency in the bidding process, arguing that the agreed tariff of USD 0.0826 per kWh would lead to losses for Sri Lanka and should be reduced to USD 0.005 per kWh.
During the presidential campaign, Dissanayake of the National People’s Power (NPP) alliance promised to cancel the project if elected. In 2021, the Adani Group secured a contract to develop and operate the West Container Terminal (WCT) at Colombo Port, in partnership with Sri Lanka’s John Keells Holdings and the Sri Lanka Ports Authority (SLPA).
The Attorney General informed the Supreme Court today that the cabinet has decided to re-consider the wind farm project by India's Adani Green Energy Ltd in Mannar: reports Hirunews #LKA pic.twitter.com/k6g0OgrjFY
— Sri Lanka Tweet 🇱🇰 (@SriLankaTweet) October 14, 2024
Holding a 51% stake, the Adani Group’s $700 million investment is expected to significantly boost the port’s capacity. This project aims to balance China’s influence, which has been growing with the development of the nearby Colombo International Container Terminal (CICT) and the Hambantota Port.
What Other Media Are Saying
- Deccan Herald reports Sri Lanka’s new government, led by Anura Kumara Dissanayake, is reconsidering permission for Adani’s wind power project amid legal and environmental concerns.(read more)
Frequently Asked Questions
Here are some common questions asked about this news
Who is the new president of Sri Lanka?
Anura Kumara Dissanayake.
What did the new Sri Lankan president announce about the Adani Group’s wind power project?
His government would reconsider the project’s approval.
How much was the Adani Group planning to invest in Sri Lanka’s wind power project?
$440 million.
Why did petitioners oppose the Adani Group’s wind power project?
They claimed a lack of transparency and argued the agreed tariff would lead to losses.
What other major project does the Adani Group have in Sri Lanka?
The development and operation of the West Container Terminal at Colombo Port.
