Crisis-hit Only a month after the Indian multinational conglomerate’s shares crashed as a result of the negative report on the Group by American short-seller Hindenburg, Sri Lanka has accepted a $442 million wind power project of Adani Green Energy.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
In a related development at the time, a former Ceylon Electricity Board chairman resigned following his contentious claims that Prime Minister Narendra Modi had “pressured” former Sri Lankan President Gotabaya Rajapaksa to approve an Adani Group project in the island country. He later withdrew those claims. The claim was “vehemently refuted” by Mr. Rajapaksa.
Financial crime watchdog FATF suspends Russia’s membership due to Ukraine conflict
The signing of the renewable energy project coincides with India and Sri Lanka’s increased efforts to integrate their energy networks, a notion that the neighbours first proposed more than ten years ago. Sri Lanka currently produces about 4,200 MW of electricity annually, and over the next two decades, it is anticipated that this demand would rise by about 5%. For the next three years, according to the authorities, they plan to add around 2,800 MW of renewable energy to the national grid.
Also Read: Pakistan receives $700 mln funds from China
The excitement for IPL 2025 is building as the 10 franchises reveal their player retentions…
India is a vast country in South Asia, the 7th largest by land area. It…
As cities work to reduce pollution and ease traffic, using electric vehicles like buses is…
India and Russia have reached a significant agreement to jointly manufacture the Pantsir air defence…
The Indian Institute of Technology Madras (IIT Madras) is teaming up with the Indian Space…
In a historic 4-3 decision on November 8, 2024, the Supreme Court overturned its 1967…