Colombo, Sri Lanka (14) – In a surprise move, Adani Green Energy has withdrawn from two wind power projects in Sri Lanka, citing financial impracticability. The projects, worth $442 million, were expected to generate 484 MW of wind power in the Mannar and Pooneryn regions of Sri Lanka. However, the new administration’s decision to renegotiate the tariffs proved to be a major hurdle.“We are disappointed, but we understand the challenges faced by the company,” said a local resident. “The project had a lot of potential, but unfortunately, it didn’t work out.”Renowned Sri Lankan scientist Rohan Pethiyagoda expressed concerns that Sri Lanka will lose the opportunity to get 2000 GW of wind power. “This is a setback for our renewable energy goals,” he said. “We need to find alternative solutions to meet our energy demands.”The project had faced opposition from environmentalists and was challenged in Sri Lanka’s Supreme Court over ecological concerns. Additionally, Adani Group’s chairman, Gautam Adani, was sued in a US court for allegedly bribing Indian officials to secure a contract.Despite the withdrawal, Adani’s $700 million investment in Colombo Port will continue. The company had spent around $5 million on pre-development activities for the wind power projects.The move comes as the newly elected Sri Lankan President, Anura Kumar Dissanayake, takes bold decisions regarding big industrialists like Adani in India. Reacting to this, Adani clarified that it was a personal matter.The project was approved In 2024 during the tenure of then Sri Lankan President Ranil Wickremesinghe. There was a contract of purchase for twenty years. However, with the change of power, the project came under scrutiny, ultimately leading to the Adani group’s withdrawal. The company’s expenditure of 43.50 crores on the project has also been wasted.
By Anupriya Gaikwad
Reporting for True to Life News Media Pvt. Ltd.