Sri Lanka to Renegotiate Adani Wind Power Pact

Colombo, Jan 28 (PTI) The Sri Lanka government will renegotiate the power purchasing agreement with Adani Green Energy for a 484 MW wind power project to bring the cost under USD 0.06 per unit, an official said on Tuesday.

"We would want it to be below 6 cents US," government spokesman Nalinda Jayathissa told reporters here.

The previous government's decision to sign a 20-year power purchase agreement for the 484MW wind plants at 8.2 cents US was disputed as local bidders had offered lower unit prices.

Jayathissa's NPP had earlier vowed to annul the Adani green energy project.

The new government in December decided not to sign an agreement at the purchase prices agreed by the previous government in 2023.

The government refuted news reports that the Adani Green Energy projects in the northeastern regions of Mannar and Pooneryn projects are to be cancelled.

However, the government-appointed committee would review the whole project.

Adani Green Energy had also earlier rejected reports that the project had been cancelled.

"The Sri Lankan Cabinet's decision of 2 Jan 2025 to reevaluate the tariff approved in May 2024 is part of a standard review process, particularly with a new government, to ensure that the terms align with their current priorities and energy policies. Adani remains committed to investing USD 1 billion in Sri Lanka's green energy sector, driving renewable energy and economic growth," the Adani group company stated last week.