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Home Business & Finance Economic Policies

Sri Lanka President’s Fund services to be available islandwide: PMD todayheadline

January 25, 2025
in Economic Policies
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ECONOMYNEXT – Sri Lanka’s new administration has appointed a committee to review the Adani wind power projects in the island and decided not to sign an agreement at the price decided earlier, Media Minister Nalinda Jayatissa said.

“There was no decision to cancel the Mannar and Pooneryn projects, but to appoint a committee to review the projects,” Minister Jayatissa told reporters Saturday.

“The committee has started work. After the review is completed, we can decide what changes to be made.”

In May 2023 the government said a decision was taken to sign a 20-year power purchase agreement for the 484MW Adani wind plants at 8.26 cents a unit, triggering an outrcy over the high price and lack of competitive tendering.

Related

Adani deal symptomatic of Sri Lanka’s high costs from lack of competition: Analyst

Sri Lanka Mannar 50MW wind plant lowest bid 4.88 US cents

“We are not agreeable to the prices put forward, so that was revoked (avalangu karala) and the committee was appointed to revise the project with pricing,” Minister Jayatissa explained.

“There are 5 court cases ongoing. The government will take a decision based on all that.”

Environmentalists have also protested over the design of the project, expressing concerns over several aspects, including the lack of underground cabling in a what is a migrant bird flyway in Mannar.

Related

India’s Adani says Sri Lanka wind project still on, power price under review

Sri Lanka to buy wind power from Adani for 8.26 US cents

In documents filed in court, there was also a decision to appoint a cabinet committee negotiations committee. No negotiations have taken place, Minister Jayatissa said. (Colombo/Jan25/2025)


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