The group’s proposal has recently secured approval from the Sri Lankan Cabinet-appointed Management Committee on Investments
Adani Group reportedly planning to develop a large-scale wind project in Sri Lanka. (Credit: PublicDomainPictures from Pixabay)
Indian conglomerate Adani Group is reportedly set to develop a 1GW wind power project in Mannar, Sri Lanka with an investment of more than $1bn.
A proposal made by the Indian group in this connection has been recently approved by the Sri Lankan Cabinet-appointed Management Committee on Investments (CAMCI), reported The Sunday Morning.
The Sri Lankan publication also wrote that Adani Group is planning to develop a second wind project in Sri Lanka’s Northern Province, which will be at Pooneryn.
Adani Group’s subsidiary Adani Green Energy is said to have submitted a proposal to the Board of Investment of Sri Lanka (BOI) and the Ceylon Electricity Board (CEB). The submission had been confirmed by CEB chairman M.M.C. Ferdinando.
Subsequently, the BOI had referred Adani Green Energy’s proposal to CAMCI, which was established to expedite investment proposals.
In this regard, a memorandum of understanding (MoU), which will be drawn up by the BOI, is expected to be signed by BOI Sustainable Energy Authority (SEA) chairman, treasury secretary and the CEB chairman.
Ferdinando couldn’t say when the proposed wind power project in Mannar would be launched.
The CEB chairman was quoted by the publication, as saying: “We don’t know when it will be finalised, because after the MoU is signed, several regulatory authorities on renewable energy need to be consulted.
“We (CEB) are only the energy purchaser; the SEA is the energy developer and allocates resources. There are then other authorities such as the environmental authority for environmental clearance, and so on.”
In September 2021, Adani Group revealed plans to invest $20bn over the next 10 years in renewable energy. As part of this, the conglomerate is aiming to grow its renewable power generation capacity by three folds over the next four years.