Adani denies Sri Lanka cancelled wind power purchase deal
Sri Lanka has cancelled a power purchase agreement with Adani Group due to corruption allegations in a US probe. The country's government revoked the deal after a US investigation uncovered corruption claims, but the project itself remains intact. A committee will now review the wind power project.
The previous government had agreed to buy electricity from Adani's renewable energy complex at 8.26 US cents per kilowatt in May 2024. The Sri Lankan cabinet decided to re-evaluate the tariff, citing a standard review process to ensure alignment with their current priorities and energy policies.
Adani Group denied reports that its 484 megawatts wind power projects in Sri Lanka were cancelled, calling the claims "false and misleading". The move comes as part of a broader review of energy policies and priorities in Sri Lanka, following a change in government.
via SCMP Full Text Feed
Sri Lanka has cancelled a power purchase agreement with Adani Group due to corruption allegations in a US probe. The country's government revoked the deal after a US investigation uncovered corruption claims, but the project itself remains intact. A committee will now review the wind power project.
The previous government had agreed to buy electricity from Adani's renewable energy complex at 8.26 US cents per kilowatt in May 2024. The Sri Lankan cabinet decided to re-evaluate the tariff, citing a standard review process to ensure alignment with their current priorities and energy policies.
Adani Group denied reports that its 484 megawatts wind power projects in Sri Lanka were cancelled, calling the claims "false and misleading". The move comes as part of a broader review of energy policies and priorities in Sri Lanka, following a change in government.
via SCMP Full Text Feed
