Facing crippling power outages and fuel shortages, Sri Lanka is hopeful for progress on two delayed wind energy projects with India’s Adani Green Energy in the next month, Reuters reported quoting Srilanka’s Energy Minister Kanchana Wijesekera.
The cash-strapped nation, seeking to ramp up green energy to reduce reliance on expensive imports, is currently evaluating the projects due to disputes over pricing and efficiency. According to Wijwsekara, the ongoing negotiations on pricing and transmission lines are expected to be concluded by March. Adani Green Energy was issued provisional approval for two wind projects of 286 MW in Mannar and 234 MW in Pooneryn for an investment of USD 442 million last year.
Currently, Sri Lanka relies equally on hydropower, coal, and oil for its electricity. Aiming for 70% renewable energy by 2030, the government has vowed to avoid new coal plants. Meanwhile, India has proposed supplying LNG to power two Sri Lankan plants, with officials working out the logistics.
Last November, China’s Sinopec received approval for a $4.5 billion oil refinery in Hambantota, where China also built a port. The contract is awarded, and clarifications on land, water, and concessions are being addressed.
While Adani’s projects were approved in August 2022, they faced controversy over transparency and due process. Opposition parties accused the group of bypassing competitive bidding, leading to amended energy laws. In 2021, Gautam Adani met then-president Gotabaya Rajapaksa to push forward investments after securing the Colombo port terminal deal.
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