The Hon. Kumara Jayakody - Minister of Energy

¶ 01 Hon. Speaker, I table the answer.

¶ 02 (a) (i) Yes. To promote wind power in Sri Lanka, Adani Green Energy Limited (AGEL), a subsidiary of India’s Adani Group, reached a Memorandum of Understanding on 11.03.2022 with: 1. Ministry of Finance 2. Ministry of Power and Energy 3. Ceylon Electricity Board 4. Sri Lanka Sustainable Energy Authority 5. Board of Investment of Sri Lanka

¶ 03 (ii) The Government decided to re-examine the purchase tariffs earlier agreed by the former Government for power to be generated under this project, and the Cabinet resolved to appoint a Project Committee and a Procurement Committee for that purpose.

¶ 04 (iii) By letter dated 12.02.2025, Adani Green Energy Limited informed the Board of Investment that it is withdrawing its project proposal. As the proposal has been withdrawn, cancellation does not arise.

¶ 05 (iv) The CEB and the Sustainable Energy Authority will, for future large-scale renewable projects, complete prerequisite tasks including grid studies, environmental approvals, other necessary clearances, and land acquisition, thereby creating an enabling environment for foreign investors to implement projects smoothly. In addition: - Competitive international bidding will be used to call for proposals, enabling competitive technical and financial submissions, with dollar-denominated tariffs to avoid exchange risk to investors. - Initial discussions have commenced with the World Bank to implement a payment guarantee mechanism to secure payments to foreign investors.

¶ 06 (b) Not applicable.