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Adani Green Energy, a company of Adani Group, will no longer make two of its proposed wind power complex in Sri Lanka. This 484 MW project was to be built in Mannar and Pooni Coastal Area in Sri Lanka. Today, on Thursday (February 13), the company gave this information through a press note.
The company said, “Adani Green Energy has decided to withdraw from renewable energy, wind energy and two transmission projects in Sri Lanka. This information has been given to the concerned department of Sri Lanka. We are committed to Sri Lanka and if the Sri Lanka government wants, we are ready to cooperate in future.
The purchase agreement was canceled due to corruption case in America
Recently, Sri Lanka decided to end the power purchase agreement with the Adani Group. Then Sri Lanka argued that Gautam Adani, the owner of the group, had been facing serious allegations of corruption in the US.
The government signed this agreement in May 2024 to buy electricity from Adani Wind Power Complex. The Sri Lankan government had signed an agreement to buy power at a rate of $ 0.0826 (current value- about Rs 7.18) per kW from this power complex.
Disanayake Administration started investigating project
According to reports, President Anura Kumara Disanayake Administration also formed a committee to review the group's local project. Many Sri Lankan activists challenged the project, arguing that many small renewable energy projects are selling electricity at two-thirds of the price compared to Adani. In addition, the company is facing a separate case in the Supreme Court due to Environmental Consign.
Adani accused of bribery and fraud in America
It is not in the authority of the US Securities and Commission (SEC) to send summons to the Adani Group Chairman Gautam Adani in a case of bribery and fraud allegation of billions of rupees. This claim has been made in some media reports. It states that summons will have to be sent through proper diplomatic medium.
At the same time, this matter related to 8 people including Gautam Adani has now reached the Supreme Court. Advocate Vishal Tiwari has filed a petition in the Supreme Court demanding an inquiry into the matter. In the petition, the investigation conducted by the market regulator SEBI for the allegations of short seller Hindanburg research against the Adani Group has also been accused of flaws and expressed concern over the credibility of the Security Exchange Board of India.
In November, Bangladesh had reduced power demand from Adani
In November 2024, Bangladesh had reduced power from Gautam Adani's power company Adani Power. The government of Bangladesh had taken this decision due to a reduction in demand and delay in payment of outstanding payment due to winter. Earlier, on 31 October 2024, the company had reduced the power supply to the country due to delay in due payment. Then the President of Bangladeshi Power Distribution said …
