Monday 15th April 2024

Sri Lanka Approves renewable energy projects of Adani group

Sri Lanka’s investment promotion body has approved Adani group’s two renewable energy projects to be set up in the east and northern regions of the island country at a total investment of USD 442 million.

It is a wind power plant project approved to be set up in Pooneryn and Mannar. In Pooneryn, the wind power plant will operate at a capacity of 100 MW (megawatt), while in Mannar, it will operate at a capacity of 250 MW.

A release said India’s Adani Green Energy Limited got an approval letter from The Board of Investment of Sri Lanka for the set up of two wind power plants in Pooneryn and Mannar.

The two plants of 350 MW are expected to be commissioned in two years, and then they will be append to the national grid by 2025.

Early this week, the representatives of the Adani Group visited with the minister of  Energy, Kanchana Wijesekara, to look over the progress of the two projects.

This new project is expected to generate 1500-2000 new employment opportunities.

This was the first official meeting when the US-based short seller Hindenberg Research made a list of allegations against the Indian conglomerate, such as fraudulent transactions and share-value manipulation. However, the company has dismissed the allegations as a lie, stating that it complies with all laws and disclosure requirements.

Adani investment in Lanka’s energy sector is in addition to its investment in the Western container terminal port of Colombo.

The group’s head Gautam Adani met the then President Gotabaya Rajapaksa in October 2021, so he signed a deal to develop the Western Container Terminal of Colombo Port under the Rajapaksa Presidency after the group proceeded with investment in the country.

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