S'abonner

India revives 120 MW solar project in Sri Lanka after Adani withdrawal

New Delhi has confirmed the construction of a solar power plant in Sampur, reviving a long-delayed project following the withdrawal of a major wind farm backed by the Adani Group.

Share:

India is set to begin construction of a 120-megawatt solar power plant in the Sampur region of north-eastern Sri Lanka, according to an official statement from the Indian Ministry of External Affairs. The project, led by Indian state-owned company NTPC (National Thermal Power Corporation), will be symbolically launched on April 5 during the official visit of Indian Prime Minister Narendra Modi, alongside Sri Lankan President Anura Kumara Dissanayake.

A reactivated project amid regional rivalry

This development comes less than two months after the cancellation of a wind farm project supported by Indian private conglomerate Adani, valued at over €420mn, in the north-west of the island. The decision followed a renegotiation of the contract, with the Sri Lankan government deeming the electricity purchase price too high and raising concerns over the agreement’s transparency.

The solar initiative in Sampur, in planning for several years, reflects India’s efforts to reclaim economic ground in a country where China has increased its presence through multiple infrastructure investments. Vikram Misri, Secretary at the Indian Ministry of External Affairs, described the launch as a significant step in bilateral cooperation between the two nations.

Economic context and judicial background

Adani’s project cancellation comes as the conglomerate, led by billionaire Gautam Adani—a close associate of Prime Minister Modi—had pledged $1bn in renewable energy investments in Sri Lanka. Gautam Adani was indicted in 2024 by US federal authorities in a corruption case involving solar energy contracts in India.

The Sampur project emerges as Sri Lanka begins economic recovery two years after a major financial crisis. In 2024, the country recorded a 5% growth rate, described as significant by the International Monetary Fund (IMF).

  • Populaires ​
The United States sides with Argentina in YPF dispute
China unveils 17 MW floating wind turbine prototype
TotalEnergies leads high-power charging on motorways with 1,800 stations
Cadeler receives Wind Keeper vessel and secures firm EUR210m contract
Gutami Holding signs 150 MW solar deal with storage in Burkina Faso
EDP Renewables signs 20-year solar contract with California Water Service
EDP Renewables North America and California Water Service have entered into a 20-year agreement to supply solar energy to a strategic Bakersfield site, reducing grid energy costs by about $1.7mn over the contract duration.
Europe’s solar slowdown marks the first decline in a decade
Solar growth in the European Union is seeing its first annual contraction in ten years, following reduced subsidies and shifting budget priorities in several member states.
Scatec wins 846 MW solar project in South Africa for 735 mn USD
Scatec secures the development of a 846 MW photovoltaic cluster in the Free State province, with an investment of ZAR13bn ($735mn), following the seventh round of South Africa's REIPPPP programme.
Enbridge launches 600 MW solar project in Texas to power Meta
Enbridge invests $0.9bn in a 600 MW solar facility in Texas, fully dedicated to powering Meta Platforms, Inc.'s data centres through a long-term power purchase agreement.
ENGIE acquires a portfolio of 22 solar projects totalling 70 MW in Pennsylvania
ENGIE has announced the acquisition of 22 distributed solar projects in Pennsylvania, further strengthening its renewable energy expansion strategy while supporting the local economy and enhancing the reliability of the distribution grid.
Estuary Power launches Escape Solar and secures major additional financing
Estuary Power commissions the Escape Solar and Storage project in Nevada, integrating 185 megawatts of solar capacity and securing enhanced financing from institutional investors to supply electricity to several major players in the leisure sector.
US tariffs and FEOC restrictions threaten solar supply chain and create risks for the industry
New anti-dumping tariffs and Foreign Entity of Concern (FEOC) restrictions are disrupting the US solar supply chain, while ongoing dependence on China exposes the industry to significant risks, according to Wood Mackenzie.
Sri Lanka signs partnership to roll out solar energy at scale
Sri Lanka and the International Solar Alliance (ISA) have signed a strategic partnership to accelerate solar energy deployment in the country, aiming for 70% renewable energy by 2030.
Sunrun raises $431 million with residential solar system securitization
Sunrun announced the pricing of its $431 million securitization, involving leases and power purchase agreements. This marks the company’s 14th public securitization and its third of 2025.
Resalta acquires Statkraft’s Croatian platform, strengthening its position in Eastern Europe
Resalta has completed the acquisition of Statkraft’s Croatian platform, expanding its presence in renewable energy across Eastern Europe, with a portfolio of projects and a full local team.
Gaia finalises $11mn solar acquisition in South Africa with two photovoltaic assets
Gaia Renewables 1 has acquired a 10% stake in two solar power plants in the Northern Cape, following regulatory approval and financial close, strengthening its portfolio of independent assets.
Azerbaijani sovereign fund acquires stake in 402 MW solar assets in Italy
SOFAZ acquires 49% of a 14-plant solar portfolio held by Enfinity Global in Lazio and Emilia-Romagna, reinforcing its long-term stable investment strategy.
Entech acquires 100 MWp of solar projects from international energy group
Entech spent €1.4mn to acquire a portfolio of photovoltaic projects under development across southern and central France, marking a first move in its external growth strategy following a recent capital increase.
MIGA grants $495 million in guarantees to CrossBoundary for 100 African projects
A guarantee operation orchestrated by the World Bank targets the expansion of distributed energy solutions across nearly twenty African markets, involving a project portfolio led by CrossBoundary Energy and a financial collaboration with Standard Bank South Africa.
South Africa: Eskom Under Pressure from Residential Solar Growth
Facing chronic power outages, South African households are increasingly turning to solar self-generation, jeopardizing Eskom's pricing model and widening energy-access inequalities between affluent neighborhoods and disadvantaged areas.
Sol Systems raises $675mn to support 500 MW of solar and storage projects in the United States
Sol Systems has secured a $675mn credit facility to accelerate the development of 500 MW of solar and storage projects in Illinois, Ohio and Texas, backed by an international banking consortium.
Solar becomes the leading source of electricity in Pakistan
The rapid rise of solar energy is disrupting Pakistan’s electricity sector, forcing the government to revise its tariff policy and introduce new taxes on solar panel imports.
Sabanci Renewables acquires 120 MW of solar in Texas from OCI Energy
Sabanci Renewables announces the acquisition of the Texan solar project Pepper from OCI Energy, strengthening its US portfolio to 660 MW and paving the way for an increase to 3 GW by 2030.
Poland awards 1.67 GW of solar projects in its latest renewables auctions
The results of recent Polish auctions reveal a predominance of photovoltaic solar, with 178 projects selected and a total capacity of 1.67 GW, while other segments found no takers.
The French solar federation organises itself amid current political and economic attacks
The National Solar Energy Federation, launched on 21 June and formalised on 14 July, brings together installers, equipment suppliers and financiers to defend photovoltaics against political criticism as Paris prepares a new energy roadmap.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING