Special statement from Ranil on Adani power projects
- CNL Reporter
- March 26, 2025
- Political
- Special statement from Ranil on Adani power projects
- 0 Comments
Former President Ranil Wickremesinghe has underscored the significance of projects like the Adani wind farm in attracting more investors to Sri Lanka, while emphasizing the need for India’s support to build a trillion-dollar economy by 2060.
Wickremesinghe cautioned that rejecting such partnerships would hinder the country’s development and keep it in poverty.
Speaking as the chief guest at the launch of Dr. Bandula Gunawardena’s book, The Five Weapons of the Sri Lankan Economy, in Rajagiriya yesterday, Wickremesinghe stressed the importance of maintaining investor confidence.
He warned that altering agreements or prices with energy companies, including the Adani Group, could deter future investment, particularly in the energy sector, where multi-billion-dollar proposals are on the table.
“Energy proposals worth two to three billion dollars have been submitted, but these projects could move to other, more profitable countries if we are not careful,” said Wickremesinghe.
He also highlighted the ongoing risk factors in Sri Lanka’s economy, which could force investors to charge higher prices for energy projects.
Referring specifically to the Adani wind farm agreement reached during his tenure, Wickremesinghe reiterated that once a deal is made, it must be honoured.
He stated that efforts to renegotiate could harm the country’s credibility. “We established a benchmark for the value, including a rate of 8.26 US cents per unit. Changing this now would send a negative message to investors.”
Wickremesinghe also touched on the broader economic strategy for Sri Lanka, stressing the need for capital and technology to drive growth.
He pointed out that countries like China and Vietnam have successfully sourced these from abroad and urged Sri Lanka to follow a similar path to increase per capita income and achieve sustainable development.
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