Team News Riveting
Ahmedabad, January 24
The Adani Group Friday clarified that the reports of Sri Lanka officially revoking a power purchase agreement with the Indian conglomerate are inaccurate and deceptive.
Early in the day, a news agency reported that Sri Lanka has revoked the power purchase agreement with the Adani Group. In May 2024, Sri Lankan government had reached a deal to purchase electricity at a rate of US$0.0826 per kilowatt from an Adani wind power facility planned for construction in the northwest region of the island.
In a statement, spokesperson of Adani Group categorically denied the reports that Adani’s 484 MW wind power projects in Mannar and Pooneryn have been cancelled. “The reports are false and misleading,” the company said, adding that they firmly state that the project has not been cancelled.
The Sri Lankan Cabinet’s decision of January 2, 2025 to re-evaluate the tariff approved in May 2024 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 remains committed to investing $1 billion in Sri Lanka’s green energy sector, driving renewable energy and economic growth,” the company said.
