The conglomerate founded by the billionaire Gautam Adani says that he withdrew from the projects because they were “financially non -viable”.
The Adani group of the Indian conglomerate withdrew from an wind project of $ 442 million in difficulty in Sri Lanka after the government of the island nation sought to renegotiate the agreement.
The board of directors of Sri Lanka (BOI) announced Thursday that it had received a letter from Adani Green Energy Limited saying that it had decided to “withdraw respectfully” from the project, which involved building two wind power plants as well as two transmission projects.
The new government of Sri Lanka examined Adani projects after the accused of the American authorities The founder billionaire Gautam Adani and other managers in November to be part of a bribes’ payment program to obtain Indian electric tenders, invoice that the company denied.
Last month, the government said that it started talks with the Adani group to reduce the cost of power in the projects of a previous figure from $ 0.08 to around $ 0.06 or less per kilowatt hour (kWh ).
The project was signed under the interval President Ranil WickREMESINGHE in May 2024.
An Adani spokesperson explained that the group withdrew from projects because they were “financially non-viable”.
“We have learned that another negotiation committee and a project committee appointed by the firm would be formed to renegotiate the project proposal,” the company told the president of the Sri Lanka investment council in a letter.
“This aspect was deliberated on the board of directors … and it was decided that if the company fully respects the sovereign rights of Sri Lanka and its choices, it would withdraw respectfully,” he added in the letter On Wednesday, seen by the Reuters news agency.
In a statement on Thursday, Adani Green said she was still attached to Sri Lanka and was open to the future collaboration if the Colombo government wished.
The Adani group is also involved in the construction of a 700 million dollars terminal project in the country’s largest port in Colombo.
The US International Development Finance Corporation had initially promised $ 553 million for the western container terminal of Adani in Colombo, but then retired.
Sri Lanka short of silver, which has suffered paralyzing power outages and fuel shortages during a Economic crisis in 2022tried to speed up renewable energy projects to cover yourself against imported fuel costs overvoltages.
Adani was the first foreign investor to enter Sri Lanka following this financial crisis.
