Brief by Shorts91NewsDesk / 06:23am on 24 Mar 2025,Monday India Global
Sri Lankan President Anura Kumara Dissanayake's administration has revoked a power purchase agreement with India's Adani Group, originally set at $0.0826 per kilowatt-hour, citing concerns over excessive tariffs and allegations of corruption. The $442 million wind power project in Mannar and Pooneryn faced scrutiny after U.S. authorities indicted Adani Group's chairman on bribery charges. Dissanayake, who campaigned on promises to annul such deals, emphasized the need for competitive tariffs, referencing a domestic 50 MW wind project priced at $0.0465 per unit. A committee has been appointed to review the Adani project, which also faces environmental challenges in Sri Lanka's Supreme Court. (Photo Credit: Fortune India)
