Sri Lanka and Adani Group Negotiate Wind Power Costs Amid Allegations

The Sri Lankan government is negotiating with India's Adani Group to reduce wind power costs amidst allegations of bribery involving its founder, Gautam Adani. Aiming to cut the price per kilowatt-hour, discussions signify the government's commitment to affordable renewable energy amidst ongoing power crises and economic strain.

The Sri Lankan government has initiated talks with India's Adani Group to negotiate lower costs for two wind power projects in the northern province. This move comes as the group faces allegations from U.S. authorities accusing founder Gautam Adani and other executives of bribing to secure power supply contracts in India.

Nalinda Jayatissa, Sri Lanka's Health and Media Minister and cabinet spokesman, stated the government's objective to reduce prices to around $0.06 per kilowatt-hour, less than the initially proposed $0.08. Adani has denied the bribery allegations and did not immediately respond to requests for comment regarding the negotiations.

Despite allegations, Adani insists its power purchase agreement with Sri Lanka is intact and characterizes the tariff review as standard procedure with the new government. The company remains committed to investing $1 billion in Sri Lanka's green energy, with plans to establish two wind power stations, backed by a $442 million investment.

(With inputs from agencies.)