By Ifham Nizam

The Adani Group’s foray into Sri Lanka’s renewable energy sector has ignited significant debate, blending environmental, economic, and geopolitical narratives. Some of the Group’s projects in South Asia are seen by critics as combining profit-making with regional dominance, environmental scientist Hemantha Withanage said.

Withanage was speaking to The Island Financial Review, after launching a report titled, ‘Neither Clean, Nor Green’, on three cross border energy projects in South Asia.

Withanage, a prominent environmentalist and Executive Director of the Centre for Environmental Justice, shed light on the broader implications of Adani’s presence. “These projects are not just about renewable energy; they are part of a larger strategy that prioritizes business interests while undermining local sovereignty and environmental ethics, he said.

Withanage added: “Adani’s USD 442 million renewable energy project in Sri Lanka positions the conglomerate as a dominant player in South Asia’s energy transition. By leveraging its ties with Indian policymakers and exploiting Sri Lanka’s energy crisis, Adani has effectively gained a foothold in the island nation.

“For Sri Lanka, still recovering from economic turmoil, the deal represents a potential lifeline. However, questions remain about whether this partnership offers a genuine win-win scenario or is a calculated maneuver to secure strategic advantages. This is more than just business; it’s a calculated approach to embed influence in Sri Lanka’s critical infrastructure.

“Despite the high economic stakes, the lack of transparency surrounding the deal raises red flags.

“Reports suggest that the project moved forward without adequate consultation with local communities or comprehensive environmental assessments. Critics warn that bypassing due diligence could set a dangerous precedent.

“From a business standpoint, this opacity may work in Adani’s favor by expediting project timelines and reducing initial costs. However, it risks alienating local stakeholders, potentially undermining long-term sustainability.

“While renewable energy represents a lucrative growth area, Adani’s Sri Lankan venture highlights the thin line between opportunity and exploitation. Disrupting ecosystems to accommodate large-scale energy plants could lead to reputational damage, both locally and internationally.

“With this project, Adani positions itself as a leader in green energy while sidelining fundamental sustainability principles. The balance between economic returns and environmental responsibility will ultimately shape the legacy of this venture.

“Adani’s strategy exemplifies how businesses can influence emerging markets under the guise of sustainability. For Sri Lanka, the challenge lies in ensuring that such partnerships genuinely benefit its economy, preserve sovereignty, and adhere to environmental safeguards.”

Bankhill Educare, a premier preschool and daycare chain in Sri Lanka, has won the prestigious “Best Preschool Chain” Award at the 23rd Edition of the World School Summit held recently in Kuala Lumpur, Malaysia.

The World School Summit is one of the most prestigious global platforms celebrating excellence in education, bringing together schools, educators, and innovators from around the world. The event showcases groundbreaking practices and honours institutions that demonstrate outstanding contributions to education. This year’s summit highlighted the theme of “Transforming Education for a Better Future”, focusing on innovation, inclusivity, and sustainability in the education sector.

During this edition of the World School Summit, Bankhill Educare competed against preschools from over 70 countries and was rewarded for its continued excellence over the years with the “Best Preschool Chain” award. Winning this prestigious award places it among the elite institutions shaping the future of education globally. This recognition is also a testament to Bankhill Educare’s unwavering commitment to excellence in early childhood education and its innovative approach to nurturing the leaders of tomorrow.

From colonial beginnings to global aspirations, a story of resilience, growth and community impact

George Steuart & Co Ltd., Sri Lanka’s oldest mercantile establishment celebrates its 190th anniversary in 2025 – an extraordinary milestone for Sri Lanka. To mark this historic moment, the George Steuart Group has planned a series of community focussed activities in line with its values encompassing its seven sectors, culminating on its Founder’s Day on 14th August 2025.

The legacy of the company goes back to Captain James Steuart who initiated business as Merchant Bankers in 1835. By 1860, with the advent of his brothers George and Joseph, the business evolved to an Agency House that managed coffee plantations. Their commercial endeavours were intertwined with serving the needs of the community. This spirit is best captured in the Will of the founder James Steuart who bequeathed his vast fortune of land and money to the Bishop of Colombo by way of a Trust.

Over almost two centuries, George Steuart has witnessed local and global challenges including world wars, civil wars, terrorism, insurgencies, tsunamis, pandemics, socio-political uprisings and economic turbulence. Some challenges, however, have been unique to the legacy of the company. In 1870, Ceylon’s coffee plantations were destroyed by blight. This major setback prompted George Steuart to be at the forefront of the country’s transformation from coffee to tea, earning a reputation as “the original Ceylon tea people”. A century later, the company faced a bigger impediment, when plantations were nationalised in 1975 with no compensation for loss of business to the Agency Houses. At this time, the company had the largest acreage under its Agency, which was its Principal line of business. Thus, George Steuart earnestly began diversification into new lines of business. Another major setback occurred in January 1996, when the company’s iconic head office building on Janadipathi Mawatha was ravaged by a terrorist bomb targeting the Central Bank. The damage was extensive, including the heart-breaking loss of lives. The company’s strength of character was demonstrated by its Travel Arm that operated out of decentralised offices and successfully organised an infamous turnaround charter flight on Sri Lankan Airlines for the ICC Cricket World Cup Final within two months of the tragedy.

Today George Steuart & Co. stands as the genesis of Sri Lanka’s private sector. It was one of the founding members of the Ceylon Chamber of Commerce, 185 years ago. Duminda Hulangamuwa, Chairman of the Ceylon Chamber of Commerce commenting on this milestone, said “The story of George Steuart is a historical monument of how colonial commerce in Ceylon evolved to become the corporate Sri Lanka of today. Its journey of 190 years stands as a testament to the incredible resilience and adaptability of the Sri Lankan private sector.”