‘Deceptive’: Adani Group denies report on Sri Lanka revoking energy buy deal

NEW DELHI: Adani Group has denied the reviews of cancellation of energy buy take care of Sri Lanka and known as it “false and deceptive”. It categorically talked about that the tasks had been nonetheless on amid US indictment.
“Stories that Adani’s 484 MW wind energy tasks in Mannar and Pooneryn have been cancelled are false and deceptive. We categorically state that the undertaking has not been cancelled,” Adani Group stated in a press release.

This got here after AFP reported citing Sri Lankan power ministry sources that the island nation had revoked the power take care of the billionaire group.
“The federal government has revoked the energy buy settlement, however the undertaking will not be cancelled. A committee has been appointed to evaluation the complete undertaking,” the supply informed AFP.
Sri Lankan President Anura Kumara Dissanayake’s administration has launched investigations into Adani Group’s native tasks following bribery expenses in opposition to founder Gautam Adani in america late final 12 months.
The earlier administration had agreed in Could 2024 to buy electrical energy at $0.0826 per kilowatt-hour from an Adani wind energy undertaking deliberate for the island’s northwest. Nonetheless, a senior power ministry official confirmed that Dissanayake’s cupboard has determined this month to halt the deal, AFP reported.
In the meantime, the Adani Group stated that the nation’s latest transfer to reassess the tariff accepted in Could 2024 was a routine a part of the evaluation course of, particularly underneath new authorities.
“The Sri Lankan Cupboard’s determination of two Jan 2025 to reevaluate the tariff accepted in Could 2024 is a part of an ordinary evaluation course of, notably with a brand new authorities, to make sure that the phrases align with their present priorities and power insurance policies. Adani stays dedicated to investing $1 billion in Sri Lanka’s inexperienced power sector, driving renewable power and financial progress,” it stated.
US authorities, in November final 12 months, charged Gautam Adani and his associates with paying over $250 million in bribes to Indian officers to safe photo voltaic power contracts for Adani Inexperienced Power Ltd (AGEL).