<p>Chennai: Finding it difficult to deal with the new government in Colombo, <a href="https://www.deccanherald.com/business/companies/adani-green-energy-shares-jump-9-in-morning-trade-3299697">Adani Green Energy Limited</a> has conveyed to Sri Lanka its decision to withdraw from two proposed wind power projects in the north and southern parts of the country. The decision comes amid Adani’s legal battle over approval of the projects by the Gotabaya Rajapaksa government in 2022, months before it was overthrown by a popular uprising and protests from people in Mannar, where one of the projects was to be implemented. </p><p>The projects – a 484 MW renewable energy wind farm at Mannar and Pooneryn along with its associated Transmission system and additional 220 KV and 400 KV Transmission network expansion to carry electrons to consumptive centres in southern Lanka – have been mired in controversies ever since Adani Group and Sri Lanka signed an agreement.</p>.Adani Group to spend Rs 6,000 crore on setting up health infra with Mayo Clinic.<p>It is believed that the then Rajapaksa government awarded the power project in Mannar to Adani, keeping India’s security and strategic interests in mind since the location is geographically close to Tamil Nadu, and his successor Ranil Wickremesinghe didn’t heed calls for its scrapping. </p><p>However, the projects have been hanging fire ever since Left-leaning Anura Kumara Dissanayake, whose party JVP led an insurgency against the Indian Peacekeeping Force (IPKF), assumed office as Sri Lanka’s president in September last year. </p><p>Dissanayake, who believes that the cost quoted by Adani is on the higher side and won’t help his aim to reduce electricity costs, had ordered a full review of the project in December after his high-profile visit to India. This was seen as the first step towards implementing his NPP’s poll promise of scrapping the project. </p><p>Adani Group was pushed to the corner after the Sri Lankan government constituted two new panels -- Cabinet appointed Negotiations Committee (CANC) and Project Committee (PC) -- to renegotiate the project proposal. </p><p>“This aspect was deliberated at the Board of our company, and it was decided that while the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project,” Pragnesh Darji, Company Secretary, Adani Green, said in the letter dated February 12 to Arjuna Herath, Chairman, Board of Investment, Sri Lanka. </p><p>However, the Sri Lankan Government didn’t react to Adani Energy’s withdrawal announcement. </p><p>The first red flag to the project was raised by M M C Ferdinando, the then CEB Chairman, in June 2022. Testifying before a parliamentary panel, he had alleged that Gotabaya was under pressure from Prime Minister Narendra Modi to award the project to Adani. </p><p>Besides, the project also faced protests from people in Mannar who believe that the proposed projects will pose a threat to migratory birds that come to the region and affect the fishing community as well. </p>.<p>The decision to pull out of the projects for which the company has already spent about $5 million comes as yet another setback for the Adani Group, which is already in the eye of a storm over allegations that it bribed government officials following which electricity distribution firms from five states entered into pacts with SECI for purchase of solar power from it. </p><p>Adani Green said it was under protracted discussions with CEB and various government departments of Sri Lanka for the past two years and that these projects were envisaged to collectively see investments of about USD 1 billion in Sri Lanka, based on its own operating concept. </p><p>“In pursuit of said proposal, Adani Green teams had several rounds of discussions with state-appointed committees, and after more than 14 rounds of discussions, approval was accorded on Tariff, fixed for 20 years, for the Power Purchase Agreement. Adani Green also worked on all clearances and licenses,” the company added. </p><p>It also said with the exception of Mannar Environmental approval and an associated Supreme Court case, the company had procured almost all clearances, besides working on lands for the project, as well as the associated transmission system. </p><p>“As we bow out, we wish to reaffirm that we would always be available for the Sri Lankan Government to have us undertake any development opportunity if it ever considers Adani Group to participate,” the statement added.</p><p>The latest development is unlikely to affect Adani Group’s involvement in the construction of the West Container Terminal at the Colombo port. </p>.<p><strong><ins>Timeline:</ins></strong></p><p><strong>October 2021:</strong> Adani Group Chairman Gautam Adani meets then President Gotabaya Rajapaksa</p><p><strong>March 2022:</strong> Ceylon Electricity Board (CEB) signs an MoU with Adani Green Energy Limited</p><p><strong>June 2022:</strong> Protests against the projects of Adani Green </p><p><strong>June 2022:</strong> M M C Ferdinando, the then CEB Chairman, alleged that Gotabaya was under pressure from Prime Minister Narendra Modi to award the project to Adani. </p><p><strong>August 2024:</strong> Sri Lanka’s NPP Presidential candidate Anura Kumara Dissanayake announces scrapping of Adani projects if he came to power</p><p><strong>December 2024:</strong> As President, Dissanayake announces a relook at the projects</p><p><strong>January 2025:</strong> Media reports that Sri Lankan government has scrapped Adani projects</p><p><strong>February 2025:</strong> Adani Group pulls out of the projects</p>
<p>Chennai: Finding it difficult to deal with the new government in Colombo, <a href="https://www.deccanherald.com/business/companies/adani-green-energy-shares-jump-9-in-morning-trade-3299697">Adani Green Energy Limited</a> has conveyed to Sri Lanka its decision to withdraw from two proposed wind power projects in the north and southern parts of the country. The decision comes amid Adani’s legal battle over approval of the projects by the Gotabaya Rajapaksa government in 2022, months before it was overthrown by a popular uprising and protests from people in Mannar, where one of the projects was to be implemented. </p><p>The projects – a 484 MW renewable energy wind farm at Mannar and Pooneryn along with its associated Transmission system and additional 220 KV and 400 KV Transmission network expansion to carry electrons to consumptive centres in southern Lanka – have been mired in controversies ever since Adani Group and Sri Lanka signed an agreement.</p>.Adani Group to spend Rs 6,000 crore on setting up health infra with Mayo Clinic.<p>It is believed that the then Rajapaksa government awarded the power project in Mannar to Adani, keeping India’s security and strategic interests in mind since the location is geographically close to Tamil Nadu, and his successor Ranil Wickremesinghe didn’t heed calls for its scrapping. </p><p>However, the projects have been hanging fire ever since Left-leaning Anura Kumara Dissanayake, whose party JVP led an insurgency against the Indian Peacekeeping Force (IPKF), assumed office as Sri Lanka’s president in September last year. </p><p>Dissanayake, who believes that the cost quoted by Adani is on the higher side and won’t help his aim to reduce electricity costs, had ordered a full review of the project in December after his high-profile visit to India. This was seen as the first step towards implementing his NPP’s poll promise of scrapping the project. </p><p>Adani Group was pushed to the corner after the Sri Lankan government constituted two new panels -- Cabinet appointed Negotiations Committee (CANC) and Project Committee (PC) -- to renegotiate the project proposal. </p><p>“This aspect was deliberated at the Board of our company, and it was decided that while the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project,” Pragnesh Darji, Company Secretary, Adani Green, said in the letter dated February 12 to Arjuna Herath, Chairman, Board of Investment, Sri Lanka. </p><p>However, the Sri Lankan Government didn’t react to Adani Energy’s withdrawal announcement. </p><p>The first red flag to the project was raised by M M C Ferdinando, the then CEB Chairman, in June 2022. Testifying before a parliamentary panel, he had alleged that Gotabaya was under pressure from Prime Minister Narendra Modi to award the project to Adani. </p><p>Besides, the project also faced protests from people in Mannar who believe that the proposed projects will pose a threat to migratory birds that come to the region and affect the fishing community as well. </p>.<p>The decision to pull out of the projects for which the company has already spent about $5 million comes as yet another setback for the Adani Group, which is already in the eye of a storm over allegations that it bribed government officials following which electricity distribution firms from five states entered into pacts with SECI for purchase of solar power from it. </p><p>Adani Green said it was under protracted discussions with CEB and various government departments of Sri Lanka for the past two years and that these projects were envisaged to collectively see investments of about USD 1 billion in Sri Lanka, based on its own operating concept. </p><p>“In pursuit of said proposal, Adani Green teams had several rounds of discussions with state-appointed committees, and after more than 14 rounds of discussions, approval was accorded on Tariff, fixed for 20 years, for the Power Purchase Agreement. Adani Green also worked on all clearances and licenses,” the company added. </p><p>It also said with the exception of Mannar Environmental approval and an associated Supreme Court case, the company had procured almost all clearances, besides working on lands for the project, as well as the associated transmission system. </p><p>“As we bow out, we wish to reaffirm that we would always be available for the Sri Lankan Government to have us undertake any development opportunity if it ever considers Adani Group to participate,” the statement added.</p><p>The latest development is unlikely to affect Adani Group’s involvement in the construction of the West Container Terminal at the Colombo port. </p>.<p><strong><ins>Timeline:</ins></strong></p><p><strong>October 2021:</strong> Adani Group Chairman Gautam Adani meets then President Gotabaya Rajapaksa</p><p><strong>March 2022:</strong> Ceylon Electricity Board (CEB) signs an MoU with Adani Green Energy Limited</p><p><strong>June 2022:</strong> Protests against the projects of Adani Green </p><p><strong>June 2022:</strong> M M C Ferdinando, the then CEB Chairman, alleged that Gotabaya was under pressure from Prime Minister Narendra Modi to award the project to Adani. </p><p><strong>August 2024:</strong> Sri Lanka’s NPP Presidential candidate Anura Kumara Dissanayake announces scrapping of Adani projects if he came to power</p><p><strong>December 2024:</strong> As President, Dissanayake announces a relook at the projects</p><p><strong>January 2025:</strong> Media reports that Sri Lankan government has scrapped Adani projects</p><p><strong>February 2025:</strong> Adani Group pulls out of the projects</p>