Adani withdraws from USD 1 bn Sri Lanka power project
New Delhi, Feb 13 (PTI): Adani Green Energy, the renewable arm of billionaire Gautam Adani's conglomerate, has withdrawn from two proposed wind power projects in Sri Lanka, following the Island nation's new government deciding to renegotiate tariffs.
"Adani Green Energy has conveyed its Board's decision to respectfully withdraw from further engagement in the renewable energy (RE) wind energy project and two transmission projects in Sri Lanka," the firm said in a statement.
The company was to invest a total of USD 1 billion in generating electricity from wind at two projects and laying transmitting lines to take it to users.
The plan came under the scrutiny of the newly elected administration under President Anura Kumara Dissanayake who wanted to reduce electricity costs.
"However, we remain committed to Sri Lanka and are open to future collaboration if the government of Sri Lanka so desires" AGEL said.
Adani group, however, continues to be invested in a USD 700 million terminal project at Sri Lanka's largest port in Colombo.
AEGL was originally supposed to develop two wind farms with a total capacity of 484 megawatts in Sri Lanka's Mannar and Pooneryn regions, with an investment of USD 740 million.
The project, slated for completion by mid-2026, had a rough start with opposition from environmental groups and legal challenges in Sri Lanka's Supreme Court over ecological concerns.
In May last year, Sri Lanka's previous government agreed to purchase power from the proposed Adani wind plant at USD 0.0826 per kilowatt-hour.
The new government began investigating the contract following an indictment against the Adani group founder chairman Gautam Adani and his key associates in a US Court for allegedly paying bribes to Indian officials to secure contracts to supply renewable energy in the country.
In January, the new administration revoked Adani's power purchase and began investigations. Thereafter it opted to review and renegotiate the terms to bring the cost below USD 0.06 per unit.
Unable to meet the demand, the Adani group has withdrawn from the project.
The group conveyed its decision to the Sri Lankan government on February 12 saying it learnt that a Cabinet-appointed negotiations committee and project committee would be constituted to renegotiate the project proposal.
The Board of AGEL deliberated on the issue and decided that while the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project.
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KSCA expresses disappointment over missing IPL playoffs, says it was ready to host matches in B’luru
Bengaluru: The Karnataka State Cricket Association (KSCA) has issued a clarification stating that it was fully prepared to host the IPL playoffs and final matches in Bengaluru but the fixtures were allotted to other venues.
In a media note, KSCA said it was disappointed with the decision. The association stated that its president, former India cricketer Venkatesh Prasad, had been in touch with the Board of Control for Cricket in India (BCCI) and had formally conveyed the association’s readiness and interest in hosting the matches at the M. Chinnaswamy Stadium.
KSCA said the IPL matches held in Bengaluru this season were appreciated for smooth conduct, crowd management and overall experience for spectators. It said this reflected its ability to handle high-profile matches.
The association also stated that it had sent a detailed communication to the BCCI explaining its preparedness and the operational arrangements followed during the current IPL season. According to KSCA, these systems have been in place since the start of the Indian Premier League in 2008 and were followed consistently, including during previous playoff matches hosted in Bengaluru.
The clarification added that the communication sent to the BCCI was only meant to provide factual and operational details and to bring clarity on logistical and stakeholder-related requirements involved in hosting such matches.
KSCA said that although it had shown willingness and preparedness, the BCCI has decided to allocate the playoff matches to other venues. It added that the reasons for this decision have not been formally shared with the association, but it respects the authority of the board in taking such decisions.
The association further said it remains ready to host matches of national and international importance and will continue to cooperate with the BCCI, franchises, government authorities and other stakeholders for conducting cricket events.
The statement was issued by KSCA official spokesperson Vinay Mruthyunjaya, who also thanked the media and cricket fans for their continued support.
