Adani Group Refutes False Claims on Sri Lanka Wind Projects
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Synopsis
On January 24, the Adani Group strongly denied false reports about the cancellation of its 484 MW wind power projects in Mannar and Pooneryn, Sri Lanka. The group remains committed to investing $1 billion in the country's green energy sector, emphasizing the validity of their power purchase agreement.
Key Takeaways
- Adani Group denies cancellation of wind projects.
- Commitment to $1 billion investment in green energy.
- Power purchase agreement remains intact.
- Standard review process for tariff reassessment.
- Adani involved in $700 million port terminal project.
Ahmedabad, Jan 24 (NationPress) The Adani Group firmly refuted claims stating that their 484 MW wind power projects in Mannar and Pooneryn in Sri Lanka have been cancelled.
Describing these reports as “false and misleading”, a spokesperson emphasized the Group's ongoing commitment to invest $1 billion in the green energy landscape of Sri Lanka.
“The claims regarding the cancellation of Adani's 484 MW wind power projects are completely inaccurate. We want to stress that the PPA (power purchase agreement) has not been annulled,”
the spokesperson remarked in an official statement.
According to the spokesperson, the decision made by the Sri Lankan Cabinet on January 2 to reassess the tariff approved in May 2024 is merely a standard review process, especially with a new government, aimed at ensuring that the terms are in line with their updated priorities and energy strategies.
The spokesperson also reiterated the Adani Group's dedication to invest $1 billion in Sri Lanka’s green energy sector, which will facilitate both renewable energy and economic growth.
Sri Lanka has entered into a 20-year power purchase agreement with Adani Green Energy for two wind power facilities developed by the company.
The approval for Adani Green Energy to invest $442 million and establish 484 megawatts wind power plants in Mannar and Pooneryn was granted in February 2023.
As per the agreement, the company will receive 8.26 cents per kilowatt-hour (kWh).
Furthermore, the Adani Group is involved in constructing a $700 million terminal project at Sri Lanka's largest port in Colombo.
