JVP goes to court against the sale of shares of the Yugadanavi Power Plant

    Janatha Vimukthi Peramuna (JVP) former Parliamentarians Sunil Hadunneththi and Wasantha Samarasinghe today filed a writ petition in Court of Appeal challenging the agreements entered between the Government of Sri Lanka and New Fortress Energy Inc in relation to the sale of 40% of the shares of Yugadanavi power plant in Kerawalapitiya to a US company. The petitioners had named Prime Minister Mahinda Rajapaksa, the Cabinet of Ministers, New Fortress Energy Inc, West Coast Power (Private) Limited, Ceylon Electricity Board, Attorney General and several others as respondents in the petition. The petitioners said on 7th of July 2021, the framework agreement was signed between the government of Sri Lanka and the New Fortress Energy Inc for the disposal of 40% of the total shares held at West Coast Power (Private) Limited by Yugadanavi (Pvt) Ltd. The petitioners further said agreements had been further entered for the execution of the Terminal Project which includes Floating Storage Regasification Unit (FSRU), Mooring system and the Pipelines, and the supply of Liquefied Natural Gas (LNG) to West Coast Power (Pvt) Ltd. The Petitioners state that to the best of their knowledge, the Share Sales and Purchase Agreement (SSPA) pertaining for the sale of 40% of the shares in West Coast Power (Pvt) Ltd. and the Gas Supply Agreements have not been placed before the Cabinet of Ministers to date. The Petitioners state that bundling the contracts for the Liquefied Natural Gas (LNG) terminal, construction of pipelines and Liquefied Natural Gas (LNG) supply in a single unsolicited proposal and awarding them to a foreign based company, without following a transparent procedure is an enormous threat to the national energy security. They further said the proposal to purchase 40% of the shares in the West Coast Power (Private) Limited is contrary to the National Energy Policy and Strategies.