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Sri Lanka is yet to make any public remark on whether the Hindenburg row would impact Adani’s projects in the country
Lanka approves Adani’s $442-m wind energy project
BY MEERA SRINIVASAN
Crisis-hit Sri Lanka has approved a $442 million-wind power project of Adani Green Energy, barely a month since the conglomerate’s stocks plummeted following US-based short seller Hindenburg’s damaging report on the Group.
“Adani, a leading Indian company” received the project approval “to start two wind power plants in Mannar and Pooneryn areas of (northern) Sri Lanka,” the Board of Investment (BOI) of Sri Lanka said on Wednesday. The project will likely create 2,000 jobs and in two years, generate about 350 MW of power, the Board said in a statement.
The BOI’s approval effectively takes Adani Group’s total investments in the island nation over the $1 billion-mark. It has already committed to pumping in $700 million at a strategic port terminal in Colombo and work on the west container terminal began in November last year.
Sri Lankan authorities are yet to make any public remark on whether the Group’s crashing stocks, following the Hindenburg allegations, would impact its ambitious projects in the investment-starved island nation.
When contacted, Sri Lanka’s State Minister of Investment Promotion Dilum Amunugama said the fall in Adani Group’s stocks “will not affect a company like them”.
“As far as our government and our Ministry are concerned, we are keen on investments and will ensure they are in order. That is why we approved this project,” he said on Thursday. Earlier, Sri Lanka’s Power and Energy Minister Kanchana Wijesekera held a “progress review” meeting with the visiting officials of the Adani Group, on the renewable energy projects.
Last year, the Adani Group’s projects triggered controversy in Sri Lanka, with government critics raising questions over transparency and due process in clearing the projects. The Opposition accused the Group of making a “backdoor entry” into the country’s energy sector, and within months, Sri Lanka amended its energy laws to eliminate competitive bidding in the energy sector.
In a separate development at the time, a former Ceylon Electricity Board chairman resigned after his controversial remarks to a parliamentary panel — he subsequently withdrew them and resigned — that Prime Minister Narendra Modi had “pressured” then Sri Lankan President Gotabaya Rajapaksa to clear an Adani Group project in the island nation. Rajapaksa “vehemently denied” the claim.
Meanwhile, the signing of the renewable energy project comes amid a renewed push by India and Sri Lanka to link their energy grids, an idea that the neighbouring countries first mooted over a decade ago. Currently, Sri Lanka generates power totaling some 4,200 MW a year, and the annual demand for energy is estimated to increase by about 5 per cent over the next two decades. Authorities have said they aim to add about 2,800 MW renewable energy into the national grid over the next three years.
Meera Srinivasan is The Hindu Correspondent in Colombo.
News
Chemmani mass graves: Govt to seek international forensic help
ECONOMYNEXT –International assistance for forensic analysis of the remains unearthed at the Chemmani mass grave will be sought when the need arises, Sri Lanka’s Minister of has Justice said after opposition legislators urged the government to seek help.
“We have spoken to embassies, we have made all the local finances necessary for excavation. But when it comes to DNA analysis, depending on the type and nature we will definitely have to go for internationally recognised places,” Harshana Nanayakkara said in response to a query in Parliament.
Nanayakkara said that request for international expertise is dependant on the direction the courts give on what needs to be done, after which they will decide which agency best suits the proceedings.
The minister also recognised that local expertise is lacking in the forensic department, and the need to train local staff with the help of international experts.
Opposition MPs argued that the present need is direct help in forensics from international entities, rather than the longer term need to train the staff on analysis.
Currently, the investigation is in the excavation and exhumation stage, conducted by archaeologist Raj Somadeva and his team.
The existence of the Chemmani mass grave was first brought to light in 1998, during the trial of the rape and murder of schoolgirl Krishanti Kumaraswamy.
In February 2025, construction workers found remains near the Sinthupathy Cemetery, and following investigations ordered by the Learned Magistrate, the mass grave was discovered.
412 bodies have been discovered, with 409 bodies recovered as of 23 June 2026. According to the Office on Missing Persons, this is the 17th recorded mass grave in Sri Lanka.
News
ADB approves $57.4 million package to boost Lanka’s rooftop solar drive
The Asian Development Bank (ADB) has approved a $57.4 million financing package to help Sri Lanka expand access to affordable clean energy and reduce greenhouse gas emissions through a large-scale rooftop solar aggregation and virtual net metering programme.
The financing comprises a $35 million concessional loan, $16.9 million in grants from the European Union and $5.5 million from the Japan Fund for the Joint Crediting Mechanism. With additional contributions from implementing agencies, the total estimated cost of the project is $80.5 million.
Under the Rooftop Solar Aggregation and Virtual Net Metering Project, two state-owned utilities — Electricity Distribution Lanka (Private) Limited and Lanka Electricity Company (Private) Limited — will introduce a scalable model to collect electricity generated from large rooftop solar installations and allocate the benefits virtually among eligible consumers.
The initiative will allow consumers to access solar power benefits without having to install individual rooftop solar systems.
ADB Country Director for Sri Lanka Shannon Cowlin said the project would broaden access to affordable renewable energy while strengthening the resilience and inclusiveness of the country’s power sector.
She said the initiative would also support grid modernisation and digital transformation, while creating employment opportunities and encouraging greater participation of women and youth in the clean energy sector.
The project is expected to benefit micro, small and medium enterprises and community organisations that face financial or space constraints in installing their own rooftop solar systems. Through a social compensation mechanism, eligible groups will receive reductions in electricity costs under the virtual net metering system.
The programme will support around 25 megawatt-peak of rooftop solar capacity while strengthening distribution networks, improving digital capabilities and preparing the national grid to accommodate higher levels of distributed renewable energy.
A dedicated training facility will also be established under the project to develop green skills, enhance women’s participation in the sector and build technical expertise in advanced low-carbon technologies.
News
Bond scam case against Mahendran, Ravi K fixed for July 22
The Colombo High Court on Friday ordered that proceedings in the case filed against 11 defendants, including former Central Bank Governor Arjuna Mahendran and former Finance Minister Ravi Karunanayake, over alleged irregularities in the Central Bank bond auction be taken up again on July 22.
The case was called before Colombo High Court Judge Manjula Thilakaratne, who informed court that the Trial-at-Bar bench appointed to hear the matter had not been properly constituted.
Accordingly, the judge directed that the case be recalled on July 22 for further proceedings.
The Attorney General has filed indictments under the Public Property Act against 11 accused, including Mahendran, Karunanayake, Perpetual Treasuries Limited and its directors Arjun Aloysius and Geoffrey Aloysius.
The accused have been charged over alleged irregularities connected to a Treasury bond auction conducted by the Central Bank in March 2016.
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