February 13, 2025 08:01 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Ranveer Allahbadia's 'sex with parents' remark: Mumbai Police records statements of seven people including Apoorva Mukhija | Pakistan Army violates ceasefire along LoC, suffers 'heavy casualties' after Indian troops retaliate | PM Modi meets Tulsi Gabbard, calls her 'strong votary of India-US friendship' | It is time to stop this ridiculous war: Donald Trump calls Vladimir Putin, Volodymyr Zelenskyy to end Ukraine conflict | BJP yet to name Manipur CM after N Biren Singh's resignation, President's Rule loom large over violence-hit state | After AAP rout in Delhi, INDIA bloc faces new hurdle with Sharad Pawar irking Sena by honouring Eknath Shinde | 'Are we not creating a class of parasites?' Supreme Court makes strong observations on freebies by political parties | Narendra Modi, Emmanuel Macron jointly inaugurate Indian consulate in Marseille | Kerala nursing college horror: Five senior students arrested for torturing juniors, hanging dumbbells from private parts | Uttarakhand HC issues notice to state govt and Centre over pleas challenging UCC rollout
Sri Lanka, grappling with fuel shortages, is accelerating its transition to green energy. (Image credit: Pixabay)

Sri Lanka asks Adani to lower tariff in $442 million wind power projects amid scrutiny

| @indiablooms | Jan 28, 2025, at 05:40 pm

The Sri Lankan government has initiated discussions with India's Adani Group to reduce power tariffs for two wind power projects planned in the island nation’s northern province, Cabinet Spokesman and Health and Media Minister Nalinda Jayatissa said on Tuesday, reported Reuters.

The review of Adani’s projects follows allegations made by U.S. authorities in November, accusing Gautam Adani and other executives of participating in a bribery scheme to secure Indian power supply contracts.

Adani has categorically denied these accusations.

“The Sri Lankan government aims to secure a lower tariff, and negotiations with Adani are already underway,” Jayatissa was quoted as saying by Reuters.

The government is targeting a reduced rate of $0.06 per kilowatt-hour (kWh), down from the earlier proposal of $0.08.

Adani Group has not yet commented on the matter.

Last week, Adani clarified that its power purchase agreement with Sri Lanka remains intact, countering an AFP report claiming the deal had been revoked.

The group described the cabinet’s decision to reassess the tariff approved in May as a “standard review process” by the new government, reaffirming its commitment to invest $1 billion in Sri Lanka’s green energy sector.

Adani Green Energy’s agreement includes constructing two wind power plants with a combined investment of $442 million.

Sri Lanka, grappling with power blackouts and fuel shortages, is accelerating its transition to green energy to mitigate the impact of fluctuating imported fuel costs.

The U.S. bribery allegations have raised concerns among investors and partners, prompting at least one Indian state to reevaluate its power deal with Adani, while TotalEnergies has paused further investments in the conglomerate.

The Adani Group is also involved in developing a $700 million terminal project at Colombo’s largest port.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu