Sri Lanka Investment Board Greenlights $442-mn Adani Green Wind Power Plants

AGEL records India's largest operating renewable portfolio

The Board of Investment of Sri Lanka has given its nod to two wind power plants by AGEL (Adani Green Energy Ltd). These entail a cumulative investment of $442 million.

As per the statement, the wind power plants that boast of 350 MW of capacity are scheduled for commissioning in two years. They will be integrated into the national grid by 2025.

Sri Lanka has been battling severe power cuts for over a year and this has propelled the government to give an impetus to renewable energy projects. A few days ago, Sri Lanka had pushed up power prices by 66%.

Currently, a group of representatives from the firm are on a Colombo visit in order to assess a series of projects with Sri Lanka. The Sri Lankan Board of Investment statement revealed that the Adani wind power project will create 1,500 to 2,000 new job opportunities.

Sri Lanka has also set its sights on exporting renewable energy from its northern parts to southern India.

Back in August 2022, the Energy Minister in Sri Lankan Government, Kanchana Wijesekara had announced that India’s Adani Green Energy had been issued provisional approvals for the development of two wind power projects in Northern Province of Sri Lanka. The two wind power plants attracted an investment of over $500 million.

The Minister of the island country had said that Adani Green Energy was issued provisional approvals for two wind projects of 286 MW and 234 MW for an investment of more than $500 million. The two green energy farms were to come up in Mannar and Pooneryn respectively. He also stated that he had met officials from Ceylon Electricity Board (CEB) and Sustainable Development Authority (SDA) with regards to the progress of renewable energy projects.