Connection

popular articles

Denmark Struggles to Meet Gas Storage Targets for Winter 2024-2025
Sungrow and MSR-GE launch 100 MW BESS project in Malaysia
Trafigura Convicted in Switzerland for Foreign Public Official Corruption
A Major $1.6 Billion Agreement Between Mongolia and Orano for a Uranium Mine
Belgium: The government aims to double nuclear capacity by 2035

Adani’s Port Project in Sri Lanka to Continue Despite Controversies

Despite corruption charges against Gautam Adani, CEO of the eponymous conglomerate, Sri Lanka confirms the continuation of the strategic Colombo container terminal project, vital for its struggling economy.

Please share:

Despite a corruption case involving the Indian conglomerate Adani, Sri Lanka has reaffirmed its commitment to the deep-water international terminal project in West Colombo. Gautam Adani, CEO of the group, was indicted in the United States in November for allegedly misleading investors in a large-scale corruption scheme. However, Sri Lankan authorities, through Ports Minister Bimal Ratnayake, stated that the matter would not directly impact the country’s plans.

The container terminal project, valued at $700 million, holds strategic importance for Sri Lanka. The country is grappling with a severe economic crisis since 2022, marked by a sovereign default on external debt. According to Mr. Ratnayake, this infrastructure is critical to generating revenue and revitalizing the national economy.

The Geopolitical and Financial Context of the Project

The terminal is situated near another facility managed by China, highlighting Colombo’s geopolitical significance in the Indian Ocean region. Adani’s recent decision to forgo an American loan, perceived as a response to China’s growing influence in Sri Lanka, further underscores this importance.

In parallel, Sri Lanka has launched an investigation into Adani Group’s investments in the country, including the Colombo Port and a $442 million wind farm in the northern region. Sri Lanka’s newly elected President, Anura Kumara Dissanayake, who opposed the wind farm project during his campaign, reaffirmed his administration’s stance. The Ports Minister stated that the wind project could jeopardize the country’s energy sovereignty, further indicating that it would not move forward.

Impact of Controversies on Adani Group

Gautam Adani’s indictment has shaken his economic empire, which spans renewable energy, port and airport infrastructure, and media. Since November, the group reportedly lost approximately $55 billion in market capitalization, according to estimates.

Nonetheless, the Sri Lankan government insists on separating the CEO’s legal troubles from the ongoing projects. Minister Ratnayake emphasized that the Colombo Port is vital for the country’s economic recovery and should not be swayed by external controversies.

Register free of charge for uninterrupted access.

Publicite

Latest news

Hydro-Québec launches a 10 G$ energy efficiency plan by 2035
The UK and Eni finalize financing for CO2 storage project in the Irish Sea
Washington criticises anti-fossil policies at IEA summit
Countries accused of overstating carbon sinks to slow energy transition
Saudi Arabia reduces crude consumption for power generation by 2030

Recently published in

France seeks to create a China-EU duo to offset US withdrawal

France proposes a stronger alliance between the European Union and China to counter the absence of the United States in the fight against climate change, with a summit scheduled for July 2025.
Hydro-Québec launches a 10 G$ energy efficiency plan by 2035
Hydro-Québec announces a 10 G$ investment to enhance energy efficiency through various initiatives by 2035, creating over 5,000 jobs and reducing operating costs for Quebec customers.
en_1140290964540-4
Hydro-Québec launches a 10 G$ energy efficiency plan by 2035
Hydro-Québec announces a 10 G$ investment to enhance energy efficiency through various initiatives by 2035, creating over 5,000 jobs and reducing operating costs for Quebec customers.
en_1140290964540-4
The UK and Eni finalize financing for CO2 storage project in the Irish Sea
The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
en_1140290963540-9
The UK and Eni finalize financing for CO2 storage project in the Irish Sea
The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
en_1140290963540-9
Washington criticises anti-fossil policies at IEA summit
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
en_1140290944540-17
Washington criticises anti-fossil policies at IEA summit
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
en_1140290944540-17

Countries accused of overstating carbon sinks to slow energy transition

Countries such as Brazil and Australia are criticised for overstating the CO2 absorption capacity of their forests, a practice that undermines their commitment to reducing greenhouse gas emissions, according to a report by Climate Analytics.
Summit in London: Tensions over the role of renewable energy in global energy security
In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.
en_1140290947540-15
Summit in London: Tensions over the role of renewable energy in global energy security
In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.
en_1140290947540-15
Energy stakeholders call for acceleration of electrification in France
As a parliamentary debate approaches, twenty energy organizations urge lawmakers to act to reduce France's reliance on fossil fuels by accelerating the electrification of uses.
en_1140290966540-5
Energy stakeholders call for acceleration of electrification in France
As a parliamentary debate approaches, twenty energy organizations urge lawmakers to act to reduce France's reliance on fossil fuels by accelerating the electrification of uses.
en_1140290966540-5
Nigeria plans to add 4,000 MW to its energy capacity by 2026
Nigeria aims to increase its electricity production capacity by 4,000 MW by 2026 to meet the growing demand of the industrial sector, in a context of reforms and partnerships with international players.
en_1140290954540-13
Nigeria plans to add 4,000 MW to its energy capacity by 2026
Nigeria aims to increase its electricity production capacity by 4,000 MW by 2026 to meet the growing demand of the industrial sector, in a context of reforms and partnerships with international players.
en_1140290954540-13

EDF promises electricity more competitive than that of the United States by 2026

EDF’s outgoing CEO, Luc Rémont, claims French electricity will be more competitive than that of the United States, despite ongoing criticisms from industrialists about high tariffs.
Trump policies: renewable energy and storage sectors on alert in US markets
Donald Trump's aggressive trade policies and regulatory uncertainty in the United States are slowing investments in wind, solar, and energy storage, pushing the sector into a period of caution and market volatility.
en_1140290951540-12
Trump policies: renewable energy and storage sectors on alert in US markets
Donald Trump's aggressive trade policies and regulatory uncertainty in the United States are slowing investments in wind, solar, and energy storage, pushing the sector into a period of caution and market volatility.
en_1140290951540-12
France relaunches five calls for projects to accelerate industrial decarbonisation
The French government activates five funding mechanisms to support industrial decarbonisation projects through the France 2030 plan, targeting major sites, SMEs and high-emission industrial zones.
en_1140290945540-12
France relaunches five calls for projects to accelerate industrial decarbonisation
The French government activates five funding mechanisms to support industrial decarbonisation projects through the France 2030 plan, targeting major sites, SMEs and high-emission industrial zones.
en_1140290945540-12
The French state allocates €400mn to accelerate industrial decarbonisation
Paris releases a new €400mn funding package to support industrial projects aimed at reducing emissions under the France 2030 programme.
en_1140290958540-10
The French state allocates €400mn to accelerate industrial decarbonisation
Paris releases a new €400mn funding package to support industrial projects aimed at reducing emissions under the France 2030 programme.
en_1140290958540-10

Decline in European and American funding: threat to Africa’s transition

The massive withdrawal of American financial support and the reduction of European aid could jeopardize energy projects in Africa, profoundly altering their financing structure and the continent's commitments.
Vietnam quadruples solar and wind targets in revised energy plan
The Vietnamese government has raised its renewable energy targets in a new version of its national energy plan, responding to continued growth in electricity demand.
en_1140290948540-12
Vietnam quadruples solar and wind targets in revised energy plan
The Vietnamese government has raised its renewable energy targets in a new version of its national energy plan, responding to continued growth in electricity demand.
en_1140290948540-12
A new power outage affects over one million homes in Puerto Rico
A massive outage plunged Puerto Rico into darkness on Wednesday, leaving approximately 1.1 million households without electricity after an unexpected shutdown of all its power plants.
en_1140290951540-10
A new power outage affects over one million homes in Puerto Rico
A massive outage plunged Puerto Rico into darkness on Wednesday, leaving approximately 1.1 million households without electricity after an unexpected shutdown of all its power plants.
en_1140290951540-10
The Czech Republic ends 60 years of dependency on Russian oil
The Czech Republic has ended its dependency on Russian oil after more than six decades, a major shift made in response to Russia's invasion of Ukraine.
en_1140290952540-10
The Czech Republic ends 60 years of dependency on Russian oil
The Czech Republic has ended its dependency on Russian oil after more than six decades, a major shift made in response to Russia's invasion of Ukraine.
en_1140290952540-10

Europe contracts 19 GW of renewable capacity via PPAs in 2024

The European power purchase agreement (PPA) market for renewables reached 19 GW of new capacity in 2024, with growing momentum for hybrid contracts including storage.
France: Ferracci accuses RN of promoting fossil energy dependence
Industry Minister Marc Ferracci criticised the Rassemblement National's stance on energy, accusing it of hindering planned investments in renewables in favour of fossil fuel imports.
en_1140290950540-8
France: Ferracci accuses RN of promoting fossil energy dependence
Industry Minister Marc Ferracci criticised the Rassemblement National's stance on energy, accusing it of hindering planned investments in renewables in favour of fossil fuel imports.
en_1140290950540-8
Growing opposition to PL-69 as Quebec considers liberalising electricity
Bill 69 sparks protests in Saint-Jean-sur-Richelieu, where several organisations denounce a risk of privatising Quebec’s electricity sector.
en_1140290956540-5
Growing opposition to PL-69 as Quebec considers liberalising electricity
Bill 69 sparks protests in Saint-Jean-sur-Richelieu, where several organisations denounce a risk of privatising Quebec’s electricity sector.
en_1140290956540-5
Wind and solar reach 18% of Türkiye’s power mix in 2024
Wind and solar energy accounted for nearly one-fifth of Türkiye’s electricity generation in 2024, according to an analysis by think tank Ember, driven by a strong increase in installed capacity.
en_1140290982540
Wind and solar reach 18% of Türkiye’s power mix in 2024
Wind and solar energy accounted for nearly one-fifth of Türkiye’s electricity generation in 2024, according to an analysis by think tank Ember, driven by a strong increase in installed capacity.
en_1140290982540

PPE 3 scales back solar targets and bets on storage to stabilise the grid

France’s multi-year energy strategy shifts focus away from photovoltaics toward flexibility measures, including battery storage, to address growing imbalances in the electricity market.
PPAs gain ground in France despite limited adoption
France’s energy regulator unveils its first observatory dedicated to renewable electricity purchase agreements, highlighting a recent but still marginal growth compared to State-backed mechanisms.
en_1140290976540-2
PPAs gain ground in France despite limited adoption
France’s energy regulator unveils its first observatory dedicated to renewable electricity purchase agreements, highlighting a recent but still marginal growth compared to State-backed mechanisms.
en_1140290976540-2
Paris finalises its energy roadmap for 2025–2035 with imminent decree
The French government plans to adopt within two weeks a decree outlining the decade’s energy objectives, restarting nuclear power and preparing for a parliamentary debate on energy sovereignty.
en_1140290961540-5
Paris finalises its energy roadmap for 2025–2035 with imminent decree
The French government plans to adopt within two weeks a decree outlining the decade’s energy objectives, restarting nuclear power and preparing for a parliamentary debate on energy sovereignty.
en_1140290961540-5
The rise of renewable energy increases negative price episodes in Europe
The expansion of solar and wind capacity is multiplying hours of negative prices on European electricity markets, weakening the sector's economic balance while reshaping export and storage dynamics.
en_1140290953540-5
The rise of renewable energy increases negative price episodes in Europe
The expansion of solar and wind capacity is multiplying hours of negative prices on European electricity markets, weakening the sector's economic balance while reshaping export and storage dynamics.
en_1140290953540-5

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS