Opposition questions gov approval of wind power projects with Adani, accuses of financial fraud

Date:

June 27, Colombo (LNW): The Samagi Jana Balawegaya (SJB) has raised concerns regarding the government’s decision to develop wind power stations in Mannar and Pooneryn in partnership with India’s Adani Green Energy Limited.

At a recent briefing, former SJB MP Ajith P. Perera accused the government, particularly President Ranil Wickremesinghe and Minister of Power and Energy Kanchana Wijesekera, of engaging in large-scale financial malpractice by granting the wind power project to Adani Green Energy.

Perera highlighted that the government had agreed to purchase power at $0.0826 per KW from the proposed wind power stations to be developed by Adani Green Energy.

He criticised the decision, stating that the project had been awarded without a competitive tender process, resulting in a projected loss of millions of dollars for Sri Lanka over the next 20 years.

In support of his claims, Perera noted that WindForce PLC, which holds a 100% stake in Hiruras Power (Pvt) Ltd, had proposed a wind power project at nearly half the cost quoted by Adani.

WindForce PLC had won a tender from the Ceylon Electricity Board (CEB) to build a 50 MW wind power station in Mannar, offering electricity at $0.0488 per KW.

Perera concluded by asserting that the government’s decision to proceed with Adani Green Energy’s more expensive proposal constitutes a significant financial fraud, potentially costing Sri Lanka over a billion US dollars.

Share post:

spot_imgspot_img

Popular

More like this
Related

Fresh Border Clashes Erupt Between Pakistan and Taliban Forces Despite Recent Ceasefire

Tensions along the Pakistan and Afghanistan frontier escalated once...

Sri Lanka’s First Post-Crisis Dollar Bond Signals Renewed Investor Faith

Sri Lanka’s return to foreign-currency borrowing took a significant...

HSBC Exit Marks Shift toward Local Dominance in Banking

HSBC’s decision to exit Sri Lanka’s retail banking business—now...

Sri Lanka Set for Strong Market Upswing as Stability, Lift Investor Confidence

Sri Lanka’s capital market is entering its most promising...