Adani withdrawal: Victory for financial accountability and environmental protection

Friday, 14 February 2025 00:16 - - {{hitsCtrl.values.hits}}

Biodiversity scientist Dr. Rohan Pethiyagoda says new administration’s decision to renegotiate project spared SL from a ‘staggering financial rip off’

Dr. Rohan Pethiyagoda

Commends fierce lobbying by environmental groups and civil society groups and handful of public officials at CEA, PUCSL who refused to cave into political pressure by former Govt.

Biodiversity scientist Dr. Rohan Pethiyagoda, who for the last year fought tirelessly against the proposal award to Adani Green Energy SL Ltd., yesterday said the exit move by the firm represents a victory for financial accountability and environmental protection.

“The new Government’s decision to renegotiate the 484 wind power project in Mannar has spared the country from a ‘staggering financial rip off’ that could have cost electricity users Rs. 572 billion over the next 26 years,” he told the Daily FT.

He recalled that the deal approved by Ranil Wickremesinghe-led Cabinet on 6 May 2024 would have granted Adani a tariff of $ 8.26 cents per kilowatt-hour (kWh) – a 77% premium over a competing bid by a local firm.

“Just do the math,” he said noting that the Rs. 22 billion annual cost differences could have burdened electricity users for decades.

“That’s how much money those who prevented this scam from being perpetrated have saved the nation,” Dr. Pethiyagoda said.

He said the decision to review the project came after fierce opposition from environmental groups and civil society, including, the Wildlife and Nature Protection Society (WNPS), Environmental Foundation Ltd., and the Centre for Environmental Justice.

According to Dr. Pethiyagoda, the most critical resistance came from a handful of public officials within the Central Environmental Authority (CEA) and the Public Utilities Commission of Sri Lanka (PUCSL) who refused to cave into political pressure from then-President Ranil Wickremesinghe and former Power and Energy Minister Kanchana Wijesekera.

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