By. Staff Report
The Hindustan Times reports that the Sri Lanka new government has missed an opportunity to get an investment of one billion dollars.
The reason being that President Anura Kumara Dissanayake was trying to reduce the power prices to less than 6 US cents.
According to the report which added that this came after the previous government administration had agreed to buy electricity per unit at 8.26 US cents.
This project was scheduled to take place in Mannar and Pooneryn. Included in these proposals were transmission lines and wind power. If this initiative went ahead, it would have resulted, in a $1 billion investment favouring Sri Lanka.
The newspaper also highlights out to the agreements taken by the previous government for the wind projects and laying of transmission lines in Mannar and Pooneryn areas.
Indian news published that Adani Green Energy, which is founded by Indian billionaire Gautam Adani, had decided to withdraw its wind energy project from Sri Lanka yesterday (13). However, the report indicates that the Sri Lankan government has decided to go to another series of negotiations by next week, signalling fresh and transparent flat form.
Adani Green Energy Ltd will not be building two wind power projects in Sri Lanka after the new government sought lower tariffs, Bloomberg report had cited a letter from Adani Green Energy Ltd stating their withdrawal.
This comes at a time when the Adani Group also faced setbacks in Bangladesh over unpaid dues and infrastructure projects being scrapped in Kenya after the bribery probe against the Group, by the US Securities and Exchange Commission (SEC).
The Sri Lankan project allowed great scope for Adani to expand its wind energy profile which at the moment is a small portion of its business mix.