These projects had raised significant concerns over the lack of proper scrutiny and the terms that could potentially burden the Sri Lankan taxpayers for years to come. Adani Green Energy won the approval in February 2023 to invest $ 442 million and develop the 484 megawatts wind power plants.

Adani Green Energy, in a letter to the Board of Investment, conveyed that a new Cabinet-appointed negotiations committee and project committee were being constituted to renegotiate the proposal, leading to the company’s decision to withdraw. “While the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project,” international newswires quoted the letter as saying.

While investments are critical for a country’s development, they must be allowed in a transparent manner that will win the confidence of the taxpayers and the general public who will have to carry the burden and commitments entered by governments, often for generations. The need for renewable energy in Sri Lanka in particular is urgent, especially as the country’s national grid faces numerous capacity issues as witnessed by the recent power cuts. However, this desperation and need should not circumvent due process and transparency. Any citizen with a living memory of the numerous electricity crises since the 1990s will recall that during such desperate times, many scrupulous deals had been made steeped in corruption.

These range from purchasing power at exorbitant rates from the private sector to connecting floating barges with generators. While the imperative for renewable energy development is clear, it is equally crucial that we safeguard transparency and fairness in how we approach such projects. Let us prioritise good governance and ensure that the decisions made today do not burden our future generations. Only through a competitive, transparent bidding process can we be assured that the best outcomes will be achieved for the people of Sri Lanka.

It is ironic that the Adani group had chosen to withdraw itself from the proposed projects in the north when the Government had sought to renegotiate the deals and offer competitive bidding for the proposals. This process would have ensured that the projects are awarded to the best-qualified companies based on both cost-effectiveness and technical capability, rather than political influence or diplomatic pressure.

Despite Adani Group withdrawing itself from the power projects it is reported that it would still continue with the Colombo West Terminal project in the Colombo port. In the wake of the investigations launched in the United States against the Adani Group and now its withdrawal from the energy projects in Sri Lanka, there should be greater scrutiny of the company in its involvement in the shipping sector. Once again the need for expansion of the Colombo port should not trump the necessity for transparency and accountability when awarding such mega projects which in this case has been granted a 25-year corporate income tax holiday.

Moving forward there should be greater scrutiny about the foreign entities involved in mega investments in the country, especially through accountability and oversight of Parliament, to ensure that the best deal is made for the people of Sri Lanka.