New Delhi: A month after withdrawing from the renewable energy project in Sri Lanka, Adani Green Energy has said it is willing to work with the island nation on the same terms as earlier, the economynext has reported.
Sri Lanka, however, has maintained that the deal – which includes the construction of two wind farms in Mannar and Pooneryn to generate 484 megawatts of power – will only go through if the Adani group agrees to a price revision, the report said.
The Sri Lankan government had sought to renegotiate the power purchase agreement – estimated to cost a total of $1 billion – to reduce costs, following alleged allegations of bribery against Adani group’s founder Gautam Adani in November last year.
President Anura Kumara Dissanayake, who came to power in September 2024, had also pledged to renegotiate the deal while campaigning for the national elections.
The Adani group had withdrawn from the deal after the Dissanayake government set up a review committee to look into the deals with the Adani group in January this year.
Adani Green has now written to the Sri Lankan government confirming its availability to implement the project at the previously agreed rates.
“We have written to the Sri Lanka government that we are willing to work on the same terms as earlier. Our position is the same as before. We are available to implement the project at the earlier agreed tariffs.” a source, aware of the latest developments, was quoted by economynext as saying.
The Dissanayake government had asked the Adani group to reduce the per kilowatt-hour (KWH) rate to $6 cents from $8.26, decided under the previous government. The previous rate had sparked controversy and lawsuits from activists concerned about the environmental impact and high tariff.
The Adani group was to invest $442 million to build the two wind farms.
Cabinet spokesman Nalinda Jayatissa said there was no change in the government’s stance on the Adani deal, the economynext reported.
“The government’s stance on Adani’s project has not changed yet,” he said.
“We are open for investment. If Adani brings suitable investments for us, we are ready to discuss. But the government has an opinion on the (unit) price in the proposed wind power project. It is high.”
“Our request is that the price revision should happen. If they come up with a price revision, we can discuss. If they are not ready for price revision, then they can take a decision to give up the project.”
“It does not mean that all the investors coming to Sri Lanka are leaving. Whoever the investor, if the burden can’t be borne by us and if the government has to pass that burden to the people, then the government will take a decision with regard to this.”
Jayatissa said that President Dissanayake had clearly communicated this during his India visit in December.
“If they come up with a price revision, we are ready to discuss. We don’t depend on one company or one country. We will discuss and decide everything depending on the benefits to the public. We don’t have any other interests,” Jayatissa said.
