INSUBCONTINENT EXCLUSIVE:
Adani Group was set to invest over $440 million in the 20-year agreement
(Photo: Shutterstock)2 min read Last Updated : Oct 14 2024 | 2:36 PM IST
Sri Lanka's new government led by Anura Kumara Dissanayake on
Monday told the Supreme Court that it would reconsider the approval granted by the previous government to India's Adani Group for a wind
power project.
A five-member Supreme Court (SC) bench was told on behalf of the attorney general that the decision to review the project
had been taken at a Cabinet meeting held on October 7.Click here to connect with us on WhatsApp
The final decision of the new government
Dissanayake in the run-up to the September 21 presidential election had pledged that his National People's Power (NPP) alliance would annul
the project.
The NPP claimed that the project posed a threat to Sri Lanka's energy sector sovereignty and promised that it would be
cancelled in the event of their victory.
The Adani Group was set to invest over $440 million in the 20-year agreement for the development
of 484 megawatts of wind power in the northeastern regions of Mannar and Pooneryn.
The project faced fundamental rights litigation in the
Supreme Court of Sri Lanka.
Petitioners have raised environmental concerns and lack of transparency in the bidding process to grant Adani
Green Energy the go-ahead.
Petitioners have also argued that the agreed tariff of $ 0.0826 per kWh would be a loss to Sri Lanka and should
be lowered to $ 0.005 per kWh.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest
of the content is auto-generated from a syndicated feed.)First Published: Oct 14 2024 | 2:35 PMIST
