Adani has been ordered to repay millions of US dollars that were initially invested by the Sri Lankan government after it suspended its renewable energy projects, the Daily Mirror reported.
India’s Adani Green Energy had earlier informed the Sri Lankan government that it was pulling out of two proposed wind farm projects.
The company took the decision after the National People’s Power (NPP) government demanded a reduction in the cost of generating electricity. The NPP government did not agree to the cost set by the previous government that had agreed to the project with Adani.
Adani was to build a wind power project in the towns of Mannar and Poonareen in the Northern Province, and had planned to invest US $442 million for it.
The project was expected to add 350 megawatts of electricity to the national grid by 2025.
However, after the project was abandoned, Adani officials wrote to the government in May this year requesting reimbursement of the initial costs incurred for research and investigations conducted with the Sustainable Energy Authority (SEA) of Sri Lanka. However, Adani has not yet stated how much the Sri Lankan government is to pay.
The Ministry of Power and Energy has not yet taken a decision on the compensation.