Terming such reports as "false and misleading", a company spokesperson said the Group remains committed to investing $1 billion in Sri Lanka's green energy sector.

"Reports that Adani's 484 MW wind power projects in Mannar and Pooneryn have been cancelled are false and misleading. We categorically state that the PPA (power purchase agreement) has not been revoked," a Group spokesperson said in a statement.

The Sri Lankan Cabinet's decision of January 2 to reevaluate the tariff approved in May 2024 is "part of a standard review process, particularly with a new government, to ensure that the terms align with their current priorities and energy policies", according to the spokesperson.

The spokesperson further stated that the Adani Group remains committed to investing $1 billion in Sri Lanka’s green energy sector, "driving renewable energy and economic growth".

Sri Lanka entered into a 20-year power purchase agreement with Adani Green Energy for two wind power stations developed by the company.

Adani Green Energy won the approval in February 2023 to invest $442 million and develop the 484 megawatts wind power plants in Mannar town and Pooneryn village, both located in the Northern province of Sri Lanka.

The company will be paid 8.26 cents per kilowatt-hour (kWh), according to the agreement.

The Adani Group is also involved in building a $700 million terminal project at Sri Lanka's largest port in Colombo.

Courtesy Media Group: IANS