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There is no Laugfs gas in the market. No one taking responsibility and They are coming up with lame excuses as usual. This is happening every 6 months.
@anuradisanayake@BimalRathnayake
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Adani Wind Plant Deal: Sri Lanka to Lose 100x More Than the infamous Bond Scam Over 20 Years
⭕ Yesterday, the CEB published the bids received for the 50MW wind power plant in Mannar, which they have called for competitive bids on a 20-year Build, Own, and Operate (BOO) basis.
Bids recieved (USD cents per 1 kWh)
1. 4.88 - Windforce
2. 4.98 - Vidullanka consortium
3. 5.90 - Lakdhanavi
⭕ Last month, Sri Lanka's Cabinet approved Energy Minister Kanchana Wijesekera's proposal to award Adani the contract for a 484 MW wind farm in the same region, bypassing competitive bidding process. Rate: 8.26 USD per kWh
⭕ Same region, same duration of 20 years, same payment structure, much larger plant (which allows further reduced unit cost) for Adani approved at a 69% higher rate than the lowest bid here.
Let's break down the financial impact:
Adani vs Windforce
With a plant factor of 40,
⭕ Production estimate for Adani's farm:
484 MW × 40% × 24 hours × 365 ×1,000 ≈ 1.69 billion units/year
⭕ Annual cost for CEB:
• Adani: 1.69 billion units × $0.0826 ≈ $140 million
• WindForce: 1.69 billion units × $0.0488 ≈ $83 million
⭕ Additional cost due to Adani's deal:
• Annual: $140M - $83M = $57M
• Over 20 years: $57M × 20 = $1.14 billion
⭕ To put this in perspective, the 2015 bond scam, considered Sri Lanka's largest financial scandal to date, resulted in a loss of $11 million. The potential loss from the Adani deal is over 100 times that amount.
One has to ask: Is it too much to expect a fair, competitive bidding process for massive national projects?
If Sri Lanka can't prevent this level of apparent corruption at the highest levels of government, what hope is there for the country?