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Sri Lanka has ended the power purchase agreement from the Adani Group. In May 2024, the government signed an agreement to buy electricity from Adani Wind Power Complex. The company is going to build this 484 MW wind power complex in Mannar and Pooni Coastal Area in Sri Lanka.
The Sri Lankan government had signed an agreement to buy power from this power complex at $ 0.0826 (current value- about Rs 7.12) per kW. The AFP quoted sources as saying that this agreement was censil. According to reports, the government has refused to buy electricity, the project has not been closed.
Disanayake Administration started investigating project
President Anura Kumara Disanayake Administration has also formed a committee to review the local project of the group company. Many Sri Lankan activists challenged the project, arguing that many small renewable energy projects are selling electricity at two-thirds of the price compared to Adani. In addition, the company is facing a separate case in the Supreme Court due to Environmental Consign.
Adani accused of bribery and fraud in America
It is not in the authority of the US Securities and Commission (SEC) to send summons to the Adani Group Chairman Gautam Adani in a case of bribery and fraud allegation of billions of rupees. This claim has been made in some media reports. It states that summons will have to be sent through proper diplomatic medium.
At the same time, this matter related to 8 people including Gautam Adani has now reached the Supreme Court. Advocate Vishal Tiwari has filed a petition in the Supreme Court demanding an inquiry into the matter. In the petition, the investigation conducted by the market regulator SEBI of Short Celler Hindanburg Research against Adani Group has also been accused of flaws and expressed concern over the credibility of the Security Exchange Board of India.
In November, Bangladesh had reduced power demand from Adani
In November 2024, Bangladesh had reduced power from Gautam Adani’s power company Adani Power. The government of Bangladesh had taken this decision due to a reduction in demand and delay in payment of outstanding payment due to winter. Earlier, on 31 October 2024, the company had reduced the power supply to the country due to delay in due payment. Then the President of Bangladeshi Power Distribution said …
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Kenya canceled the electric-airport deal with Adani: Decided after a bribery allegation in America, a deal of ₹ 21,422 crore was
The Kenya government on Thursday announced the cancellation of all the deals made with the Adani Group. These included large projects like power transmission and airport expansion. Both the deals were worth Rs 21,422 crore. The Kenya government has taken this decision after an allegation of bribe and fraud of billions of rupees on 8 people, including Indian industrialist Gautam Adani in the US.
President William Ruto said in Parliament on Thursday- ‘Our government works on the principles of transparency and honesty and will not approve agreements that are against the image and interests of the country. We will not accept any contract that is against the policies and values of our country.
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