Sri Lankan President tells Parliament he can’t justify high power tariffs.

• Sri Lankan President Anura Kumara Dissanayake criticized Adani Green’s decision to withdraw from a controversial renewable energy project in Sri Lanka.

• Dissanayake stated that awarding energy projects at an “excessive tariff” of 8.26 cents cannot be justified.

• Sri Lanka will not privilege a specific company or country based on the company or the country of origin.

• Sri Lanka’s Foreign Minister Vijitha Herath stated that the withdrawal of Adani Green was not due to a change in government but due to the “very high tariff” negotiated with the previous Ranil Wickremesinghe government.

• Sri Lanka’s leading business newspaper, the Daily Financial Times, praised Adani Green’s exit as a victory for transparency.

• The Adani group has faced similar setbacks in other countries, particularly after changes in their government.

• Adani Ports and SEZ CEO Ashwani Gupta defended the company’s practices, stating that they consult “all stakeholders” in their international projects.

• The company’s withdrawal came amid Sri Lanka’s emphasis on the need to renegotiate the “very high” tariff.